Former NBA Most Valuable Player James Harden has agreed to a new three-year, $97 million contract to return to the Cleveland Cavaliers, his agents told ESPN on Thursday.

Two people close to the situation tell The Associated Press that James Harden has agreed to a three-year, $97 million contract to remain with the Cleveland Cavaliers.

The 11-time All-Star was waiting to sign a new contract to give the Cavs more flexibility to pursue other players like Peyton Watson.