The fourth-year point guard, speaking Saturday at his basketball camp at Independence (Ohio) High School, said he has a "great feeling" about the upcoming season.
"It's an exciting time, I can tell you that," Irving said, according to Fox Sports Ohio. "Everything is happening."
James announced on July 11 that he would return to Cleveland after four seasons with the Miami Heat.
"I was excited," Irving said. "You have to empathize with the guy. I think we all felt his emotions with his essay (on SI.com). ... I found out like everyone else found out."
One day before James' announcement, Irving finalized a five-year, $90 million extension with the Cavaliers.
"I'm glad we got it done," Irving said. "A couple days later, a guy decided to come back to Cleveland. The rest is history. Now, we'll let (general manager) David Griffin do his thing. ...
"We wanted to make it as easy as possible," Irving added. "I wanted to show my commitment to them and they wanted to show their commitment to me. That's what it was really about. They wanted me to be a part of their future, and I wanted to be a part of their future. It was a huge monkey off my back, with all the speculation and all the B.S. I was hearing. I'm just happy I got it out of the way."
The Cavaliers have also added Andrew Wiggins with the No. 1 overall pick, and veterans Mike Miller and James Jones in free agency this offseason.
The team also reportedly is in trade talks with the Minnesota Timberwolves for All-Star forward Kevin Love.
"This whole free-agent period has been a whirlwind, so many rumors, so many guys with inside sources," Irving said. "Until it happens and I get a call from our GM ... other than that, I haven't considered it."
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