As of Sunday night, the biggest announcement of NBA free agency has arrived. LeBron James has decided he'll leave the Cleveland Cavaliers for the second time in his career, and join the Los Angeles Lakers. The signing is worth over $150 million and will bring LeBron to LA for a four-year deal. However, it also has potential to bring him better teammates, endorsements, and other connections as he moves to the City of Angels.

LeBron's new deal with Lakers

According to ESPN, Klutch Sports Group announced on Sunday that LeBron's deal is worth $154 million and will span four years. It arrives not long after reports began to circulate that a moving truck was seen at LeBron's gated home in the Cleveland area and that he had flown in his private jet to Los Angeles on Saturday.

His arrival came just hours ahead of the official start of NBA free agency. There had been reports that his agents were also talking with the Philadelphia 76ers about LeBron James [VIDEO] possibly signing there.

Several other All-Star players were being mentioned in rumors as possibly joining LeBron on the Lakers. However, those stars, Paul George and Chris Paul, each announced they were sticking with their current teams, the Oklahoma City Thunder, and LA Clippers, respectively. That left some intrigue as to what "King James" might decide to do. There still seemed to be a chance that his now former team, the Cleveland Cavaliers, would be able to convince him to stay by acquiring another big name player.

None of that seemed to happen, and now LeBron will leave Cleveland for the second time of his NBA career.

The first time came with "The Decision" back in 2010 when he departed the Cavs for the Miami Heat. He went on to win three championships there, before returning to Cleveland in 2014 to win the city's first title in over 50 years.

LeBron James posted a story on his Instagram account to thank the fans. He had a caption on the story that read, "Thank you Northeast Ohio for an incredible 4 seasons. This will always be home."

Do Lakers become instant contenders?

With the addition of LeBron James to the Los Angeles Lakers, it certainly makes them more of a contender than they were a season ago. They now have arguably the best player in the game today paired up with young talents such as Kyle Kuzma, Brandon Ingram, and Lonzo Ball [VIDEO]. The Lakers' point guard jokingly tweeted about the fact LeBron would be joining him on the roster.

The team still may be lacking in terms of power to take down Western Conference threats.

They include the Houston Rockets, and the reigning NBA champions, the Golden State Warriors. There are still rumors floating around about a remaining free agent that the Lakers could target, though.

DeMarcus Cousins is probably one of the biggest names left for free agency now that LeBron's decision is known. It's being speculated that the Lakers may try to make Cousins their other big signing since they couldn't land Paul George or Chris Paul. There's also talk that maybe they'll put together an enticing trade package to try to acquire Kawhi Leonard from the San Antonio Spurs.

Regardless of all that, Lakers fans are celebrating the simple fact that yet again, they've managed to add a major superstar to their roster. Now they'll hope that a championship banner or two comes with that.