LeBron James is going to hang around home for a while.

Fresh off leading Cleveland to an NBA title, the first for one of the city’s three professional sports teams in 52 years, James agreed Thursday to a three-year, $100 million contract with the Cavaliers, a person familiar with the contract told the Associated Press.

James, who said earlier this summer he intended to re-sign with Cleveland, will soon sign the deal, said the person who spoke to the AP on condition of anonymity because some details of the deal need to be finalized.

ESPN.com first reported the financial terms of James’ new deal.

The 31-year-old James had been expected to accept the same one-year deal he signed in each of his two previous seasons since returning to Cleveland. However, he’s decided to stay longer to try and win more championships.

“I’m re-signing back with the Cleveland Cavaliers, man, my hometown team, and I couldn’t be more excited with this opportunity once again man, to defend our crown, defend our title,” James said.