Four-time NBA MVP winner and arguably the greatest basketball player ever, LeBron James, has signed a 4-year $154m (£116m) deal with the Los Angeles Lakers.

33-year-old James leaves his hometown team, the Cleveland Cavaliers, as a free agent for the second time in his career. His lucrative contract places him amongst the highest paid athletes in the world.

His next chapter will be on the West Coast with the LA Lakers – a fabled franchise who he will hope to bring their first championship since 2010.

“This will always be home,” said James on his Instagram account. “Thank you Northeast Ohio for an incredible four seasons.”

LeBron James highest paid athlete Cleveland Cavaliers

LeBron James will now face off against his arch-rivals the Golden State Warriors in the Western Conference

LeBron James leaves hometown team Cleveland Cavaliers

The three-time NBA champion, who has played in eight-consecutive NBA finals, became a free agent on the 1st July and his next move was heavily anticipated.

James chose to leave Cleveland for a second time – a team that selected him as the first pick in their 2003 player draft and a city where he established himself as a player.

The double Olympics winner was named the NBA’s most valuable player in 2009, 2010, 2012 and 2013 and moved to Miami in 2010 where he won his first two championships.

Four years later, he returned to Cleveland and delivered them their first championship in 52 years, coming from a 3-1 series deficit to win the title in 2016. The latest basketball betting odds can be found here.

The team Lebron beat, the Golden State Warriors had just had the best regular season in league history winning 73 of their 82 games.

LeBron James led his unfancied Cleveland side to a further two finals but could not overcome the Warriors – a franchise he has met in the NBA finals the last four years.

James will now contend with the Warriors in the Western conference.

Reaction to LeBron James’ move

“Words do not express the meaning and the feeling this accomplishment brought to the people of Northeast Ohio,” Cavaliers owner Dan Gilbert said in a lengthy statement thanking James.

“None of this would have happened if LeBron James did not agree to come back home and lead the Cavaliers to the promised land.”

A number of illustrious LA Lakers legends welcomed James, as did fellow Los Angeles new-comer Zlatan Ibrahimovic.