LeBron James agrees two-year deal with Cleveland Cavaliers

LeBron James has ended speculation about his future after agreeing a two-year deal which will see him remain with the Cleveland Cavaliers next season, multiple reports said Thursday.

The NBA superstar has reportedly agreed a massive $49.6 million contract after opting out of a two-year deal on June 29 to reach free agency.

James opt out decision was widely interpreted as a gambit designed to ensure the Cavaliers sign more top talent for next season after losing this year`s NBA finals.

Earlier this week point guard Mo Williams said he had agreed a deal with the Cavs which would see him reunite with James.

Williams played with James for two seasons between 2008-2010.

The Cavaliers have also handed lucrative contracts to forward Kevin Love and point guard Kyrie Irving.

Cleveland is also close to agreeing a new deal with restricted free agent Tristan Thompson, who shares an agent with James, according to reports.