A day after James’s representatives confirmed he had agreed to a four-year, US$154 million (RM623 million) contract with the Los Angeles Lakers, it was announced that the massive James banner that hangs downtown will come down.

The 10-storey billboard covers part of the side of the Sherwin-Williams global headquarters and shows James in his #23 Cavs jersey with his arms outstretched. A spokesman for the paint company said Nike will remove the banner this week, and Sherwin-Williams does not yet have a plan to replace it.

This is the second time the enormous image of James will be removed. After he announced he would leave the Cavaliers and join the Miami Heat in 2010, the sign was taken down and then replaced when he rejoined Cleveland before the 2014-15 season.

The remaining James jerseys at the team store at Quicken Loans Arena also are being cleared out. The store has reduced the price by 40%.