LeBron Could Sign a New Cavs Deal in 2009

Brian Windhorst of the Cleveland Plain Dealer looked into a LeBron James possibility no one's talked about: The Chosen One can sign a long-term extension with Cleveland, preempting the Summer of 2010 sweepstakes. There are no guarantees, but LeBron offers a quote proud Cleveland fans will scream from the top of mountains for the next six months.

"You play out this season of course; I will consider it," James said Saturday before the Cavs practiced at the Pepsi Center. "The direction we are headed is everything I expected and more."

And why wouldn't LeBron be ecstatic? Arguably, only the Celtics are in a better immediate position than Cleveland ... and that's (as I said) arguable. Agreeing to the new contract in 2009 would make up for Charles Nagy, Earnest Byner, Craig Ehlo ... locking up LeBron is as good if not better than a championship. Thousands of Ohio babies will be named "LeBron," or perhaps "James." LBJ is already a hero in Akron and Cleveland. If he actually signs a contract early, shutting up we the legions of Summer of '10 obsessives -- that's god status.
No one has discussed the early extension to date because LeBron's "mini-max" had been groundbreaking itself. Before LeBron, top youngsters signed maximum five-year extensions to go into effect in the player's fifth season. James changed it up, signing a four-year extension with a player option on the fourth. And sure enough, the league's Collective Bargaining Agreement allows for another extension to be reached three years after any contract is signed -- even though the mini-max only went into effect two years prior to July 1, 2009. Further, only contracts of four years or greater can be extended. LeBron's deal is really only for three seasons ... but there's that fourth year player option, which makes it a four-year contract on paper. Pure brilliance.

Dwyane Wade and Chris Bosh will be eligible for similar extensions. Carmelo Anthony can do the same, but he signed a normal max in '06 -- his contract is locked in through 2012. If he and Denver reach an extension so early, it'd be a surprise. I'd expect 'Melo to wait until at least 2010 to talk extension.

How much would LeBron's contract be worth? Well, you expect his management to desire another mini-max -- long enough to allow for this type of extension but short enough to ensure LeBron can get to free agency if the Cavs fall apart. LeBron would be eligible for a 2010-11 salary of $17.4 million. So the deal would basically be a three-year, $56.4 million extension. Good cheddar that Cleveland owner Dan Gilbert would be thrilled to pay.