Report: LeBron James will return to Cavs to defend title in 2016-17

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LeBron James Leads Cleveland Cavaliers to NBA Title

You can breathe, Cavs fans.

LeBron James will not entertain other teams' potential offers and is choosing to stay with the Cleveland Cavaliers, according to Cleveland.com.

"I love it here. I love being here. I love my teammates," James told the site, moments before taking part in the team's championship parade through downtown Cleveland. "Obviously my agent will take care of all the logistical things but, I'm happy. I've got no plans to go nowhere at this point."

SEE MORE: Pick up the hottest Cavs' championship gear

James, 31, can become a free agent if he decides not to exercise the one-year, $24 million player's option in his contract. He will all but certainly decline the option on June 29 so he can get a raise from the Cavs -- he can make upwards of $30 million next season under a new contract, according to the site's report.

Free agents can begin negotiating with teams July 1 and can sign July 7.

RELIVING LEBRON'S EMOTIONAL WIN IN GAME 7:

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LeBron James' emotional win
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LeBron James' emotional win
OAKLAND, CA - JUNE 19: LeBron James #23 and Kevin Love #0 of the Cleveland Cavaliers celebrate after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23, Kevin Love #0, and Matthew Dellavedova #8 of the Cleveland Cavaliers celebrate after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23 and Kevin Love #0 of the Cleveland Cavaliers celebrate after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23 and Kevin Love #0 of the Cleveland Cavaliers celebrate after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23 and Kevin Love #0 of the Cleveland Cavaliers celebrate after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23 of the Cleveland Cavaliers reacts after defeating the Golden State Warriors 93-89 in Game 7 of the 2016 NBA Finals at ORACLE Arena on June 19, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)
Jun 19, 2016; Oakland, CA, USA; Cleveland Cavaliers forward LeBron James (23) celebrates with the Larry O'Brien Championship Trophy after beating the Golden State Warriors in game seven of the NBA Finals at Oracle Arena. Mandatory Credit: Bob Donnan-USA TODAY Sports TPX IMAGES OF THE DAY
June 19, 2016; Oakland, CA, USA; Cleveland Cavaliers managing partner Nate Forbes (left) celebrates with guard Matthew Dellavedova (8), forward LeBron James (23) and forward Kevin Love (0) the 93-89 and series victory against the Golden State Warriors following game seven of the NBA Finals at Oracle Arena. Mandatory Credit: Cary Edmondson-USA TODAY Sports
OAKLAND, CA - JUNE 19: LeBron James #23 of the Cleveland Cavaliers celebrates after winning Game Seven of the 2016 NBA Finals against the Golden State Warriors on June 19, 2016 at ORACLE Arena in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2016 NBAE (Photo by Andrew D. Bernstein/NBAE via Getty Images)
OAKLAND, CA - JUNE 19: LeBron James #23 of the Cleveland Cavaliers celebrates with James Jones #1 of the Cleveland Cavaliers after winning Game Seven of the 2016 NBA Finals against the Golden State Warriors on June 19, 2016 at ORACLE Arena in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2016 NBAE (Photo by Andrew D. Bernstein/NBAE via Getty Images)
TOPSHOT - Cleveland Cavaliers forward LeBron James celebrates after defeating the Golden State Warriors to win the NBA Finals on June 19, 2016 in Oakland, California. Powered by an amazing effort from LeBron James, the Cleveland Cavaliers completed the greatest comeback in NBA Finals history, dethroning defending champion Golden State 93-89 to capture their first NBA title. The Cavaliers won the best-of-seven series 4-3 to claim the first league crown in their 46-season history and deliver the first major sports champion to Cleveland since the 1964 NFL Browns, ending the longest such title drought for any American city. / AFP / Beck Diefenbach (Photo credit should read BECK DIEFENBACH/AFP/Getty Images)
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