LeBron James’ signing with 76ers is official, per NBA

LeBron James is officially a Philadelphia 76er.

The NBA updated its transaction log Sunday with the news: “Philadelphia 76ers signed forward LeBron James to a Contract.”

James, the NBA’s all-time leading scorer, announced Friday on social media that he had agreed to join the 76ers for the record 24th season of his storied career. The deal is for two years and $8 million, a league source with direct knowledge of the agreement told The Athletic on condition of anonymity because they were not authorized to speak publicly.

As The Athletic initially reported, the Sixers waived wing Dalen Terry on Sunday. The move allows Philadelphia to add James’ salary to its payroll without exceeding the first apron, according to NBA salary cap rules.

Terry, 24, played the first 3 1/2 seasons of his career with the Chicago Bulls, who selected him with the 18th pick in the 2022 NBA Draft. The Bulls sent him to the New York Knicks in exchange for Guerschon Yabusele before last season’s trade deadline, and the Knicks traded Terry to the New Orleans Pelicans on the same day for guard Jose Alvarado.

After the Pelicans waived Terry, he signed with the 76ers and averaged 4.1 points, 1.6 rebounds and 1.6 assists in 14 games for Philadelphia last season.