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LeBron James free agency: Cavaliers' trade creates cap room

The Cavaliers have reportedly agreed to a three-team trade that would clear salary-cap room for the team's attempt to bring LeBron James back to Cleveland.

Cleveland trying to lure back 4-time MVP

LeBron James is a free agent after opting out of the final two years of his contract with the Miami Heat. (Andy Lyons/Getty Images)

The Cavaliers have reportedly agreed to a three-team trade that would clear salary-cap room for the team's attempt to bring LeBron James back to Cleveland.

Reports Wednesday said that the Cavaliers have agreed to send guards Jarrett Jack and Sergey Karasev to Brooklyn, while the Boston Celtics would acquire Brooklyn's Marcus Thornton, Cleveland's Tyler Zeller and a future first-round pick from the Cavaliers. The Cavs would have to take on at least one future second-rounder to complete the deal, ESPN reported.

The deal would allow Cleveland to shed the salaries of Jack ($6.3 million US), Zeller ($1.7 million) and Karasev ($1.5 million), giving the Cavs $21.7 million in cap space, according to ESPN.

James made just over $19.7 million last season with the Miami Heat, and was slated to make about $20.6 million next season before he opted out of the final two years of his contract.

The four-time NBA Most Valuable Player, who hails from Akron, Ohio, spent his first seven pro seasons with Cleveland before deciding to team up with fellow stars Chris Bosh and Dwyane Wade in Miami. The trio reached the NBA Finals in all four of their seasons together and won the title twice.

Bosh and Wade have also opted out of their deals, and Bosh has reportedly received a big offer from the Houston Rockets.

James and his agent were reportedly meeting with Heat president Pat Riley in Las Vegas on Wednesday.

No moves can be made official until Thursday at 12:01 a.m. ET, when the NBA's moratorium on signings and trades is lifted.

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