James opted for a four-year, $154 million deal with the Los Angeles Lakers.
James, the 33-year-old four-time league MVP and three-time National Basketball Association champion, was expected to make a quick decision on his future after opting out of his contract with the Cavaliers on Friday.
That mission was accomplished when the Cavaliers won the 2016 crown with James in the starring role as Cleveland celebrated a sports champion for the first time in 52 years.
James, 33, is the latest - and one of the greatest - legends to play for the Lakers.
The Sixers have the ability to offer James a $38.25 million annual maximum salary over four years, potentially partnering him with two of the NBA's best young stars, Joel Embiid and Ben Simmons. The All-Star is unhappy and spent much of the season injured but refused to even attend his team's play-off games from the sidelines. James already serves as Simmons' mentor. Currently, the rule serves as a way to force players to either complete one year of college basketball in the United States, or travel overseas to play in an global pro league for one season.
O'Connor also reported James is not expected to sign with the Lakers on a long-term deal, if he does choose Los Angeles. He delivered that championship, providing something many people in Cleveland had never seen before.
But despite claiming the Eastern Conference crown for a fourth straight year, James was given a blunt reminder of how far short the Cavs are of a championship caliber team when they were swept 4-0 by the Warriors in the Finals.
While dethroning the Golden State Warriors will be very hard, the Lakers are heading in the right direction.
And unlike eight years ago when he ripped James for leaving, Cavs owner Dan Gilbert thanked him.
James also got a welcome from Lonzo Ball. Last season, James proved to be the most influential player for his side, finishing the regular season averaging 27.5 points per game, 9.1 assists and 8.6 rebounds while playing in all 82 matches.
James, who is also known as "King James", took to Instagram to address his Cleveland fans.