James returned to Cleveland in 2014, and played the last two seasons on “one-plus-one” contracts, allowing him to opt out each summer.
Phelps won the Olympic 200 meters individual medley to capture the 22nd gold medal of his career and become the first swimmer to win the same event at four consecutive Games.
The American became the first woman in 20 years to win back-to-back world and Olympic all-around titles with a total of 62.198.
Compatriot Aly Raisman claimed silver, while Russia's Aliya Mustafina settled for bronze.
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