LeBron James led the Cavaliers to -- and through -- the playoffs for the first time in eight years. Nathaniel S. Butler NBAE/Getty Images

At 12:01 a.m. on Wednesday night, James confirmed that he will spend at least his early 20s about 30 minutes from his hometown, helping the Cavaliers bring a sports championship to the city for the first time in 42 years.

LeBron’s extension – a three-year deal with his option on the fourth – was a win-win for James and the Cavaliers. The way the NBA’s Collective Bargaining Agreement is set up, James can look at another, more lucrative contract in four years. As for the Cavaliers, they have the benefit of keeping arguably the league’s top player replete in Wine and Gold for the next several seasons.

Cavalier fans have dealt with some frayed nerves over the past couple weeks – first wondering when James would ink an extension and then wondering why he didn’t “max” out with a five-year deal. The Chosen One answered both questions in an exclusive interview with cavs.com moments after the NBA free agent moratorium was lifted.

‘We did extensive research and with the way the C.B.A. (Collective Bargaining Agreement) is set up, it makes the most business sense to sign this extension and then look at another new contract in four years,” said James. “I think we are really building a championship-quality team and organization and our run this year in the playoffs makes me very anxious to get back at it next year.”

Another thing both parties can also agree on is that they’re glad to have the negotiations behind them and the business of basketball in front. “Of course, there's a sense of relief,” said Cavaliers GM Danny Ferry. “But there’s a huge sense of excitement and accomplishment as well.”

James seconded that emotion.

LeBron held his second annual "King for Kids" Bike-a-Thon this year to benefit families in his hometown. Gregory Shamus NBAE/Getty Images

“I knew all along -- and I had always said -- that I wanted to stay here in Cleveland, so it's a terrific day for me and my family to actually make it official,” he echoed. “Now I can continue to concentrate on basketball and helping bring a championship to Cleveland.”

LeBron has taken the Cavaliers’ franchise to new heights during his already-prolific three-year reign. Last year, the Wine and Gold qualified for the postseason for the first time in eight years and James, of course, was at the helm. Cleveland dropped the Wizards in six games and took the heavyweight Pistons to the brink in a cut-throat seven-game series.

James has been nothing short of spectacular during his first three years in Cleveland. The accomplishments that he has been the youngest to achieve – including First Team All-NBA honors – are too numerous to mention. At 21, he’s also the youngest player to average 30 points over the course of a season.

LeBron has already put up numbers that NBA legends are made of. His 2005-06 averages of 31.4 points, 7.0 rebounds and 6.6 assists per game rank him with Oscar Robertson, Jerry West and Michael Jordan as the only players in NBA history to average at least 30 points, 7.0 rebounds and 6.0 assists in a single season.

James also has the will to match his skill – putting the team on his back throughout his first three years and into the playoffs. The man signed to be his sidekick, Larry Hughes, missed 45 games with a broken finger, but that didn’t stop the young King from leading his team to 50 wins.

LeBron takes the blame when the Cavaliers lose and does nothing but praise his teammates when they win. He is humble in victory and gracious in defeat. He has defined a new generation of NBA superstars.

“Individual accolades, it doesn’t mean anything to me,” said James after winning MVP honors at this year’s All-Star Game in Houston. “I’ve always felt that when the team’s successful, individual accolades always come.”

A prolific superstar, James is also the ultimate teammate. Nathaniel S. Butler NBAE/Getty Images

For all of his amazing work on the hardwood, James excels equally off of it. He recently won the Community Assist Award for his good works – most notably his second annual “King for Kids” Bike-a-Thon in Akron. The event benefited the James Family Foundation, the Akron Area YMCA and the Akron Urban League. LeBron donated 300 Schwinn bicycles to local children.

He also donated 1,000 backpacks and school supplies to students in Akron and Cleveland, distributed basketballs to every recreation center in Akron and Cleveland and paid for the renovation of the Women’s Health Center at Summa Health System.

But James’ community outreach reached beyond his hometown. In response to Hurricanes Katrina and Rita, James sent $200,000 in supplies to evacuees in Louisiana, Texas and Mississippi.

“It’s been tremendous being close to my family and friends and playing with my Cavalier teammates,” said James. “And it’s been extremely gratifying to give back to my community and I look forward to continuing to do so on and off the basketball court.”

For at least the next four years – and hopefully well beyond that – the young man dubbed “The Chosen One” will continue his brilliance in a Cavalier uniform. On the court, in the locker room, in the community – LeBron James is the unquestioned leader of the Wine and Gold.

Cleveland’s sports past has been a cloudy one. But at 12:01 a.m. on Wednesday night, the future became much, much brighter.