After committing to return to his hometown on Friday, LeBron "King James" James signed a two-year contract with the Cleveland Cavaliers amounting to a staggering US$ 42.1 million.

The deal also includes an option for James to become a free agent next summer which means that he can get another contract with the Cavs before the start of the 2016-2017 season.

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James announced his decision Friday saying that he is returning to the part of the country where he grew up and this is where he truly believes to be home. He will be joined by a roster with three other former No. 1 draft picks.

Kyrie Irving, 2011, out of Duke University. He was named the 2012 Rookie of the Year.

Anthony Bennett, 2013, a Canadian who played for the University of Nevada Las Vegas. He is the first Canadian to be drafted No. 1 overall in the NBA.

And this year's 2014 NBA Draft first pick overall, Andrew Wiggins out of the Kansas Jayhawks. He was selected also for the reason that James might be interested in coming back with the team.

The team is hoping to achieve its first ever NBA title after joining the league in 1970 and with its current roster, Cleveland general manager David Griffin said that "expectations will be at the highest levels but no one should expect immediate and automatic success."

James, a four-time Most Valuable Player awardee, was selected first overall by the Cavaliers in the 2003 NBA Draft. He came out of St. Vincent-St. Mary High School in Akron, Ohio.

James recorded the most NBA points scored for a prep-to-pro player in his first game against the Sacramento Kings in his rookie year and became the youngest player to have scored more than 40 points, ultimately being named Rookie of the Year.

James, 29, became an unrestricted free agent in 2010 and was courted by Heat president Pat Riley to join the team along with Chris Bosh and Dwayne Wade, both of whom were also drafted in 2003.

TagsLebron James, Kyrie Irving, Anthony Bennett, Andrew Wiggins, David Griffin, cavaliers