The King is returning to his old throne in Cleveland.
New beast in East: Phil Jackson's task of building a winner in New York may have gotten a bit more difficult.
James' move leaves the Heat in tatters (particularly if Chris Bosh heads to Houston) and gives the Cavs a chance to be the new superpower in the East.
So what does this mean for Phil's Knicks? It creates another roadblock to creating a title contender.
Instead of battling an aging Heat team, the Knicks now have to get past a Cavs team centered on James and new sidekick Kyrie Irving. It will take a talented group of Knicks to do so.
What about Melo? One aspect of Carmelo's decision was that he might be able to team with LeBron somewhere.
With King James in Cleveland, that scenario is highly unlikely.
So Carmelo's decision now boils down to the Knicks and Bulls, according to ESPN's Stephen A. Smith. The Lakers are out of the mix, Smith reports.
One factor to consider here: How will LeBron's move to Cleveland impact how Carmelo views the Bulls? Will he be more or less willing to join a team in the same division as James?
The Knicks have offered Anthony the most money -- a five-year, $129 million pact. The Lakers have offered Anthony a max contract worth $97 million over four years. The Bulls appear to give Anthony the best chance to win immediately. According to ESPN's Stephen A. Smith, Anthony has been considering the Bulls as an option in recent days.
The Bulls would need to execute a sign-and-trade with the Knicks to acquire Anthony.
Does LeBron's decision make you more or less confident that Melo will return to the Knicks? Vote in our poll above and add your comments below.
You can follow Ian Begley on Twitter.