Per LeBron's agency, Klutch Sports, James will sign with the Lakers on a four-year, $154 million deal, joining the team for the foreseeable future.
James's decision came on the first day of free agency, just 20 hours after the market officially opened.
Los Angeles will also provide James with a larger platform for his business interests and social activism.
It has been suggested the 33-year-old will not take long in deciding which team he will join.
Cavs reportedly intend to keep Love
If there's no good landing spot or ideal landing spot for him then Cleveland maybe turns out by default to be the best place. LeBron James may have one foot out of the door, but Cleveland Cavaliers guard Collin Sexton is not about to let the man go.
Durant has chose to sign a two-year deal with the Golden State Warriors, a person familiar with the situation told The Associated Press on condition of anonymity because the deal can not become official until the league's off-season moratorium ends on Friday.
James has spent his last four seasons in Cleveland, making a triumphant return to his hometown team after four seasons with the Miami Heat. The 55 games they lost in the 2013-14, the most ever in the franchise's history.
And they have the one player who has toppled the Bay Area dynasty on their side: LeBron James. The Lakers are considered strong candidates to sign James, but he also has an offseason home in L.A. Paul made his intentions known on Twitter at exactly midnight EDT Sunday, saying he's staying with the Houston Rockets after agreeing to a four-year contract worth $160 million.
Grant averaged 8.4 points per game last season and shot a career-high 53.5 percent from the field.
Medium Large is looking to add motivated individuals with big dreams and a big appetite for success to our LakersNation.com direct sales team based in Los Angeles or Orange County. Saying in text overlaying a photo from the Cavs' 2016 National Basketball Association title victory parade, "Thank you Northeast Ohio for an incredible 4 seasons".