LeBron James agrees $100m three-year deal with Cleveland Cavaliers

LeBron James won Olympic gold medals with Team USA in 2008 and 2012

LeBron James will be the NBA's highest paid player next season after agreeing a reported $100m (£77.2m) three-year contract with the Cleveland Cavaliers.

The American is expected to sign for $31m (£23.9m) next campaign, rising to $33m for 2017-18, his agent has said.

James led the Cavaliers, his hometown club, to their first NBA championship last term after rejoining in 2014.

"I can't be more excited than this opportunity once again, to defend our crown, defend our title," he said.

In a video posted on sports news site Uninterrupted, James added: "We all know last year as a magical, inspiring, all the words you can come up with, it was an unbelievable season."

James, four times the NBA's most valuable player, won two championships for the Miami Heat before returning to the Cavaliers.

His agent Rich Paul released the details of the contract - which is yet to be completed - to ESPN, with James reportedly earning a rise of more than $8m for next season.