The 76ers officially announced James' signing, raking in a staggering $430 million, and James will no longer play as a power forward.

Today, the Philadelphia 76ers officially released multiple updates, formally announcing that LeBron James has joined the team as a 76ers player.

They also posted a picture with the caption: "Through storms and sunshine, still smiling through it all! I can't believe this is my life."

The entire city of Philadelphia is buzzing over James' arrival. According to 76ers reporter Tony Jones, "Philadelphia wants to give James unprecedented treatment that Los Angeles never gave him. The Pennsylvania governor declared last Friday as 'LeBron James Day,' and the mayor welcomed James to the 'Philadelphia family.'"

The exterior wall of the 76ers' home arena has been adorned with a giant poster of the starting five, with James in the center. The title reads "Welcome to Philadelphia, LeBron James!" and the subtitle below says "More effort, more sacrifice."

The 76ers, originally focused on Embiid and Maxey, then on Jaylen Brown, now unquestionably center on James.

James' move to the 76ers has also ignited the local ticket market. Currently, James' 76ers jerseys sold out completely on the day of his announcement, with supply unable to keep up with fan demand.

Last season, the average ticket price for the Philadelphia 76ers was $68. This season, even the first preseason home game has a minimum ticket price of $283. Note, this is a preseason game—James might not even play, and if he does, it will only be for a few possessions, just to break a sweat and get some chemistry, then he'll head to the bench.

Additionally, according to estimates from Boyd Consulting, in James' first season with the 76ers,it is expected to generate an additional $250 million to $430 million in economic output for the Philadelphia area.

$430 million—what does that mean? In contrast, James' contract with the 76ers is just $8 million over two years, roughly $4 million per year. The 76ers got an incredible deal, and Philadelphia is making a killing.

According to Front Office Sports, the 76ers are expected to have 34 nationally televised games in the new season, which is the maximum number of national broadcasts a team can receive under the current broadcasting contract framework.

ESPN rated the 76ers' signing of James as an A+, saying "For $8 million over two years, what more could you want?"

James' arrival is not just a boost to the roster; his presence positively influences the team in every aspect. At 42 years old, he is a role model for any player in terms of self-discipline. This morning at 4:12 AM, James was already up, stating he was about to start another day of training.

As it turns out, James met up with new teammate Maxey today, and the two trained together to get a feel for the game early. The guy on the far left looks a bit like Irving, which caused a moment of confusion.

Opinions vary on James' role with the 76ers. Some believe that at 42, James still has the stamina to play inside and can serve as a power forward. Others think he should connect the team and energize the offense.

Renowned reporter Shams said today: The 76ers plan to have James play point guard in certain stretches, organizing and orchestrating the offense for Embiid, Maxey, and Jaylen Brown.

In the 2019-20 season, James served as the Lakers' starting point guard, averaging 10.2 assists per game and winning the league's assist title. The team ultimately won the championship. It's great that the 76ers are putting James back in the familiar point guard position.

The 76ers' starting five averaged 120.8 points per game. In the new season, with James orchestrating, we will see an offensive frenzy in every game—a visual feast.