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LeBron Watch, 1 p.m.: James reportedly prepares for South Beach celebration

Wherever LeBron James [1] decided to play next season, he’ll be in Florida this upcoming weekend for a celebration on his announcement, according to a magazine report.

Two sources confirmed to UsMagazine.com that James has rented six cabanas at the W Hotel South Beach for the weekend [2], which could be telling after reports that he’s leaning toward playing for the Heat.

Meanwhile, Cavaliers [3] beat writer Brian Windhorst tweeted [4]that Cleveland is in trade talks for Timberwolves [5] point guard Jonny Flynn, who is represented by the same agent as James.