LeBron James' management says he's signing a four-year, $154 million contract with the Los Angeles Lakers

• LeBron James' management group said Sunday he is signing a four-year, $154 million contract with the Los Angeles Lakers.
• This is the third time in eight years James has changed teams.

NBA superstar LeBron James' management group said Sunday he is signing a four-year, $154 million contract with the Los Angeles Lakers.

Klutch Sports Group issued this news release about the basketball star's decision:

LeBron James, four time NBA MVP, three time NBA finals MVP, fourteen time NBA All Star, and two time Olympic gold medalist has agreed to a four year, $154 million contract with the Los Angeles Lakers.

From James' perspective, Los Angeles provides him with a larger platform for his business interests and social activism.

This is the third time in eight years James has changed teams. He returned to the Cavs in 2014 after four seasons in Miami.

The 33-year-old had previously said he wanted to finish his career in Ohio, and although he's leaving home again, Cleveland fans are more forgiving after he ended the city's 52-year sports championship drought in 2016.

—The Associated Press contributed to this report.

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