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Cavaliers, Larry Nance Jr. share interest in contract extension; Rodney Hood due qualifying offer June 29

CLEVELAND, Ohio -- The $1.3 billion question facing the Cavaliers this offseason is of course what happens with LeBron James?

Everyone knows James can be a free agent this summer. Some of you may remember he has until June 29th to let the Cavs know if he'll pick up the $35.6 million option on his contract for next season. If he doesn't, he can still come back, and with as much as a five-year, roughly $209 million deal to boot.

If he leaves, well, the Cavs' franchise (worth north of $1.3 billion, according to Forbes, with an increase in worth of 10 percent over last year), stands to take a hit.