CLEVELAND, Ohio - As LeBron James considers what kind of contract he wants to sign next with the Cavs, a quirk in the NBA's collective bargaining agreement apparently would prevent him from getting that five-year, $200 million deal he was setting himself up for beginning next summer.

This is important because James is considering whether to sign another one-year deal for 2016-17 with the Cavs for $27.5 million, or possibly signing a multiyear deal now that would pay him nearly $31 million in the first season.

Since James returned to the Cavs in 2014, he has signed one-year deals with player options (declining them both) with the goal of maximizing his earning potential each season.

James had an eye toward 2017-18, when the salary cap is expected to jump to $107 million and he could sign a five-year, maximum contract worth about $200 million.

Or so we thought.

The quirk in the CBA, first reported by USA Today and confirmed by league sources, is known as the "Over-36 Rule."

In essence, it prevents team from giving four or five-year maximum contracts to players who would be 36 in the final year of the deal.

James, who is a four-time league MVP and now a three-time Finals MVP, would be 32 next summer, which would make him 36 entering the final year of a five-year contract he would sign in 2017.

James could sign a long-term contract now with Cleveland worth about $138 million over four years. It guarantees him the highest salary he could earn this season and locks him into a contract in the event of a catastrophic injury, but does cut short his earning potential in the following seasons - the best he could do is he signs long term next summer is four years and roughly $157 million.

The Cavs have Kyrie Irving, Kevin Love, and Tristan Thompson all locked up for four more years, and are working on a new contract with Tyronn Lue. James may crave flexibility, but at the same time Cleveland's nucleus is in place to not only defend its 2016 NBA championship next season, but to be great for a number of years with James.

Also, for what it's worth, whether he signs long term with the Cavs now or next season, no team could pay him more than Cleveland. The only instance where a team could pay him more would be if he were to take a one-year deal elsewhere for next season -- it would be worth $31 million instead of the $27.5 million the Cavs can pay him.

That's because of the CBA. But James has already said he intends to return.

There is another component to this, one that would in essence find James placing an additional bet on himself. There is a provision within the CBA that allows either the players' union or the owners to opt out of the CBA on Dec. 15. James is a vice president of the union, which means he would have a seat at the bargaining table, and the under-36 provision could be negotiated out under a new CBA.

If all of that transpired, and James took the one-year contract with the Cavs, he could wind up with $233 million from Cleveland over a six-year span.

It's the highest risk and the highest reward.