LeBron James‘ new fiancee Savannah Brinson proudly showed off her huge, pear-shaped diamond engagement ring to courtside photographers at the Miami Heat vs. Charlotte Bobcats basketball game in Florida on Sunday (Jan 1).

The ring, which we hear is valued at around $300,000, is designed in a style that many jewelers claim that have not seen since Elizabeth Taylor and Richard Burton’s days.

LeBron, whose salary will reportedly top $16 million this season, popped the question to Savannah, his high school sweetheart and the mother of his children, during a private celebratory dinner in South Beach Miami over the weekend.

PHOTOS: LeBron James and Savannah Brinson’s Engagement Party in Miami

The couple’s two young sons, LeBron Jr., 7, and Bryce, 4, were on hand to celebrate with them, as well as some of LeBron’s Miami Heat teammates, including Dwyane Wade and Chris Bosh, along with their respective significant others, Gabrielle Union and Adrienne Bosh.

“It was so sweet to watch,” a rep for Remy Martin V, who hosted the dinner, told People.com. “Everyone is extremely happy.”

Be the first to receive breaking news alerts and more stories like this by subscribing to our mailing list.