The Los Angeles Lakers announced the signing of LeBron James as a free agent on Monday night, confirming the seismic shift created by the four-time NBA Most Valuable Player's decision to leave Cleveland for the 16-time champion franchise on the West Coast.
James' agency already announced last week that the superstar had agreed to a four-year deal worth $153.3 million (£115m) with Los Angeles, the Daily Mail reported.
The Lakers have missed the playoffs in a franchise-record five consecutive seasons, while James has played in the past eight NBA Finals with the Miami Heat and the Cleveland Cavaliers, winning three titles.
The 33-year-old budding entertainment mogul immediately becomes the focus of the Lakers franchise and a possible foundation for the NBA's next super team, depending on whether James and the Lakers can persuade more superstars to join him in the next year or two.
Magic Johnson, the Lakers president of basketball operations, called James 'the best player in the world' in a news release.
“He loves to compete and is an awesome leader who is about winning and making sure that his teammates are successful,” Johnson said.
“The Lakers players are excited to have a teammate who has been to nine NBA Finals. It's a huge step closer to returning the Lakers to the playoffs and to the NBA Finals.”
James is coming off one of his greatest NBA seasons, playing in all 82 regular-season games for the Cavaliers while finishing third in the NBA with 27.5 points per game and hitting career highs with 8.6 rebounds and 9.1 assists. He then carried Cleveland to its fourth consecutive NBA Finals, where the Cavs were swept by Golden State.
The Lakers don't appear to be planning a public event to welcome James to Los Angeles, where he already owns multiple homes and spends summers with his family.