Cooler heads prevailed. The Cavaliers have agreed to a sign-and-trade deal with the Miami Heat, assuring the Cavaliers of at least something in return for LeBron James.
It breaks down like this:
LeBron James, who signs a 6-year, $110 million contract
Two first-round picks, that must be used starting in 2013 and ending by 2017
2012 second-round pick Miami received from New Orleans
Future second-round pick Heat acquired from Oklahoma City
Cleveland can also swap first round picks with the Heat in 2012
A large trade exception($15 million or so) that the Cavs must use in trades for one calendar year.
Not a bad haul, when LeBron was leaving any way.