GREENWICH CT - JULY 08: (EXCLUSIVE COVERAGE) LeBron James attends the LeBron James Pre Decision Meet and Greet on July 8 2010 in Greenwich Connecticut. Proceeds from tonight's 2.5 million dollar event will be donated to the Boys & Girls Clubs of America. (Photo by Larry Busacca/Getty Images for Estabrook Group)

LeBron James Headed To Heat In Draft Pick-Loaded Sign-And-Trade Deal

At long last, the speculation has ended. LeBron James will be a member of the Miami Heat next season, where he'll team with Dwyane Wade and Chris Bosh. Follow our StoryStream updates here for all the reaction and analysis.

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Sign-And-Trade Deal Between Heat And Cavs Officially Puts LeBron James In Miami

We knew LeBron James was headed to Miami, of course, but we weren't certain about the specifics until Saturday. As it happens, the Cavaliers and Heat have agreed on a sign-and-trade arrangement that will send a boatload of draft picks to Cleveland. Our Cavs blog, Fear The Sword, has the details:

MIAMI GETS:

  • LeBron James, who signs a 6-year, $110 million contract

CLEVELAND GETS:

  • 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.

This means that the Heat will not have a single draft pick for the next nine million years. On the other hand, though, LeBron James. For more on what this exchange of draft picks will mean for both teams, head on over to Fear the Sword as well as our Heat blog, Peninsula Is Mightier.

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