Danny Ferry has resigned as GM of the Cleveland Cavaliers, according to the Cleveland Plain Dealer.

“I thought it was critical for there to be as much clarity as possible with the basketball operations moving forward,” Ferry said. “In hiring a coach it is important for the person to know the structure and who they’re partnering with so they can continue to build on the high level that is here now.”

Chris Grant, Ferry’s top assistant will take over as GM. Now, let the speculation begin! Was Ferry asked to resign? What does LeBron have to do with this? What does this mean for LeBron? Does this make Cleveland more, or less attractive for King James? And what does Ferry know about Gloria James’ love life?

In other LeBronageddon news, President Obama has said that he thinks it would be a “terrific story,” if LeBron stayed in Cleveland. This comes a little over a week after Obama said, “I don’t want to meddle. I will say this: (Derrick) Rose, Joakim Noah it’s a pretty good core. You know, you could see LeBron fitting in pretty well there.”

TBL joked that the President’s initial homerific take on the situation wasn’t the best idea politically and it makes a lot of sense. If that’s the case, look for Obama to edit his free agency wish list to include Dirk Nowitzki (Texas), Joe Johnson (Georgia) and Chris Bosh (Canada still doesn’t vote, eh?). Chicago wouldn’t win anything, but at least the Democrats wouldn’t lose any swing states in 2012.

[Image = Getty]