According to Yahoo Sports' Adrian Wojnarowski, many of the league's general managers believe that James will propose a one to two-year deal to stay with Miami. James reportedly wants to play for maximum money and there are only a handful of teams that could meet his monetary needs.
The Cleveland Cavaliers, where James played his first seven NBA seasons, are one of those teams.
On Wednesday, the team agreed in principle on a three-team trade with the Boston Celtics and the Brooklyn Nets, sending guard Jarrett Jack and forward Sergey Karasev to Brooklyn and center Tyler Zeller, guard Marcus Thornton and a 2016 first-round pick to Boston.
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James' representation has already reportedly met with the Houston Rockets, Dallas Mavericks, Los Angeles Lakers and Phoenix Suns.