LeBron James ended speculation about his future as reports confirmed the four-time Most Valuable Player will stay with the Cleveland Cavaliers at least for the 2015-16 NBA season.

James, who opted out of the second year of his deal with the Cavaliers to become a free agent this summer, reportedly signed a two-year deal worth $46.9 million. According to ESPN, the second year of the deal is a player option for James, which means he could become a free agent again next summer.

James, who made his return to Cleveland last year after four years with the Miami Heat, averaged 25.3 points to go along with 7.4 assists and 6.0 rebounds per game last season. He led the Cavaliers to the 2015 NBA Finals but fell short in their title bid, losing to the Golden State Warriors in six games.

The 30-year-old forward decided to opt out of his deal to keep his options open, but he made it clear all along he intends to stay in Cleveland. He played down fears that he might move to another team like in 2010 and like last year, when he decided to leave Miami in free agency.

Sources indicated that James signed a short-term deal for business reasons. He could hit the market again next summer and get a bigger deal, when the salary increases significantly because of the new television deal.

Aside from James, All-Star power forward Kevin Love will also be back in a Cavaliers uniform next season. The 26-year-old forward reportedly signed a five-year contract worth around $113.2 million.

In a video posted on The Players' Tribune, Love said that he had a serious talk with LeBron James about what transpired last season, including the alleged chemistry issue between the two superstars.

"He happened to be in Los Angeles the same time I was," Love said. "So, we just talked everything out and a lot of stuff was very honest and we came to a really good place and we agreed on a lot of things, so I think that was also a very big deal when you're talking to the best player in the world."

Love, who was traded to the Cavaliers last year in the deal that sent promising rookie Andrew Wiggins to the Minnesota Timberwolves, averaged 16.4 points and 9.7 rebound in his first season in Cleveland.

The former UCLA standout appeared in his first playoff game last season, but his postseason was cut short by a shoulder injury he sustained during their first-round series against the Boston Celtics, which forced him to miss the rest of the 2015 NBA Playoffs.

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