The 76ers officially sign James! Two-year, $8 million deal with 15% trade kicker, third in championship odds.

On July 27th Beijing time, according to the NBA's official transaction log, James is now a member of the 76ers. The 76ers waived Terry to make room for James's signing. Shams reports that James's deal is for two years and $8 million, including a player option for the second year and a 15% trade kicker.

According to the latest championship odds, James's 76ers (+650) have moved up to third, behind the Spurs (+260) and Thunder (+265). They are the third-highest favorite to win the title and rank first in the Eastern Conference.

Earlier, James posted a series of updates on social media, writing a long post explaining his decision: "When the season ended, I thought my career was over. I didn't plan to announce it publicly; I knew I needed time to think carefully, and I was almost certain that was my last game. What I said at the end-of-season press conference was true—I needed to examine myself and ask whether I still love basketball."

"I still love the game from the bottom of my heart, and I still have the ability to contribute. The past few weeks have been very special; for the first time, I found myself in a directionless state, with plenty of time to think quietly. Over these months, I've weighed the pros and cons with all my loved ones."

"This is the last decision of my career. It's not about money, nor just about being with my family. At this stage, what is my true pursuit in playing basketball? I am still willing to give, to train hard, and to keep improving myself. I crave competition, I crave victory, and I want to experience winning a championship again."

"I believe I can help the Philadelphia 76ers grow into a championship contender. I am incredibly excited to ignite the passion of a new fan base and embark on this incredible final journey. Thank you to Los Angeles and Miami—I will always love those two cities. Northeastern Ohio will always be my home!"

Shams has repeatedly reported that James focused more on Eastern Conference candidate teams. Ultimately, James chose to play alongside Maxey. The 76ers, after a massive roster overhaul, are star-studded, featuring former MVP Joel Embiid, Rookie of the Year finalist VJ Edgecombe, and major new addition Jaylen Brown, who was named to the All-NBA Second Team. In early July, the 76ers sent Paul George and draft assets to the Celtics in exchange for Jaylen Brown, a deal that was almost the key factor in James's decision, making the 76ers a more competitive and attractive option.

ESPN's Dave McMenamin reports that in recent weeks, Gansy has been in constant communication with Rich Paul; Maxey, Embiid, and Jaylen Brown also directly participated in recruiting James. 76ers executive Bob Myers even appeared on Paul's podcast to actively lobby for the team.

James will turn 42 this December. Although he is no longer a dominant two-way superstar in his prime, he still maintains All-Star level play. Last season, he played 60 regular-season games, averaging 33.2 minutes per game, and put up 20.9 points, 6.1 rebounds, and 7.2 assists per game, shooting 51.5% from the field.