Sunday evening, James announced he was joining the Los Angeles Lakers in a press release issued via a tweet.
Shams Charania reports James will have a player option in Year 4, which will be the 2021 offseason when he is 37 years old.
James rejoined the Cavaliers after a brief foray to Miami in the summer of 2014, sparking an enormous shift of power in the Eastern Conference.
Wojnarowski reported that team ownership - likely led by Joshua Harris - and Brown were expected to lead the meeting.
James' camp and the Cavaliers' front office have maintained a dialogue since the season ended, sources said.
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The Philadelphia 76ers have always been a dark horse in the LeBron James sweepstakes (and in a Kawhi Leonard trade, and that's part of this story). This is the third time in eight years James has changed teams.
In his four years since returning to Cleveland, James averaged 26 points with 7.7 rebounds and 8.0 assists.
Cleveland Cavaliers general manager Koby Altman spoke to both James and Paul on the phone when National Basketball Association free agency officially opened at 12:01 a.m. ET Sunday, sources told ESPN's Dave McMenamin.
That's according to Fox Sports analyst Nick Wright, who claims James has already told his close confidants of his decision.
Kevin Durant's burner accounts couldn't be reached for comment.
Speculation was rampant that George opting to remain in Oklahoma City at the start of free agency at midnight Sunday might have soured James on the Lakers.