Update: LeBron officially signed his Lakers contract on Monday (July 9), which Klutch Sports posted to their Instagram page. Check out the full post above.

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According to LeBron's representative Klutch Sports, James has officially signed a 4-year, $154 million deal with the Los Angeles Lakers.

On Friday, LeBron became a free agent when he turned down a $36 million option with the Cleveland Cavaliers.