James technically signed with Cleveland and was dealt to the Heat
The Cleveland Cavaliers made sure they got something back for LeBron James.
After losing the superstar free agent to Miami, the Cavaliers worked out a deal with the Heat, acquiring two future first-round draft picks and two second-round picks.
Cleveland gets two of the Heat's first-round picks, starting no earlier than 2013 and perhaps continuing through 2017. They also received the Heat's 2012 second-round pick from New Orleans and a future second-round pick the Heat acquired from Oklahoma City.
The Cavaliers can also swap first-round picks in 2012 with the Heat. Cleveland picked up a trade exception that could be worth up to $16 million.
By agreeing to a sign and trade, James technically signed with Cleveland and was dealt to the Heat. It allowed James to receive more money and the extra sixth year on his contract that only the Cavaliers could offer him.
Likewise, forward Chris Bosh was sent to the Heat in a separate sign and trade with the Toronto Raptors. Both James and Bosh signed six-year deals worth $110.1 million, according to ESPN. Dwyane Wade re-signed with the Heat for $107.5 million for six years. James took about $14.5 million less than he could have made, according to ESPN.
James, Bosh and Wade have early termination clauses in their contracts, allowing them to become free agents again in the summer of 2014. The final season on all three deals, for 2015-16, is a player option, according to ESPN.