LeBron James has agreed to join the LA Lakers, it was announced on Sunday night.
A statement from James's agency, Klutch Sports Group, said that he will move west on a four-year deal worth $154 million. ESPN reports that the final year of the contract is a player option.
The Lakers will be the third team for which the 33-year-old has played in his NBA career.
Late last week, James opted out of the final year of his contract with the Cleveland Cavaliers. It was the second time that the four-time MVP has left his hometown team as a free agent.
James posted his farewell to Cleveland fans on his Instagram Story last night with a picture of him at the homecoming parade for their 2016 NBA title.
A number of teams, including the Houston Rockets and Philadelphia 76ers - both teams ready to compete for a championship - were vying for his signature.
Instead, he joined the Lakers, who will build a team around him. They've already added former Pacers' star guard Lance Stephenson last night to add experience to a young team of high draft picks acquired over the last number of years. Despite some fallow years in terms of success, the Lakers are still the most attractive destination in the league.
Sports Illustrated's Lee Jenkins has some excellent detail on the circumstances surrounding the decision.