LeBron will most likely opt out of the final year of his contract and  become an unrestricted free agent as of July 1 2010.

If  he does, his maximum salary for next season (2010/11) will be either:

• 30% of the salary cap for 2010/11, which won't be known until July 8  2010.  Estimates range from $50 to $55 million.  If the cap is $55  million, 30% of that would be $16.5 million.
• 105% of his salary for 2009/10, which would be $16,568,908.
• whichever is greater

In either case, LeBron's maximum salary for 20010/11 would  be about $16.5 million.  The Cavs, or any team with at least that much  cap space this summer (NYK, NJN, MIA, CHI, LAC, MIN, OKC?, SAC, WAS)  could offer him that.  We can make that offer because we have LeBron's  Bird rights.  No team can offer LeBron more than the $16.5 million  for next season.

We can offer LeBron a  contract of up to 6 years with 10.5% raises each year.  Any other team  can offer a contract of up to only 5 years with only 8% raises each  year.

Note that LeBron could make more next season  by choosing to not opt out - he would make $17,149,243.  It is highly  unlikely that LeBron will "opt in" for 2010/11 because of the  uncertainty of what the new CBA will be.

My guess  is that LeBron will opt out and sign with us for a maximum contract for 4  years, with the 4th year being a player option - that contract:

1. 2010/11: $16.5 million
2. 2011/12: $18,232,500
3. 2012/13: $19,965,000
4. 2013/14: $21,697,500

IMO, LeBron  will not accept  less that the maximum salary from us (or any team).