LeBron James' agent Rich Paul has informed the Miami Heat that the four-time NBA MVP will exercise his early termination option and become an unrestricted free agent on July 1.
Opting out does not mean that James has decided to leave the Heat, sources said.
James had until June 30 to decide whether to opt out of the final two years of his contract with Miami. He was scheduled to make $20 million next season and had two years and about $42.7 million remaining on his deal.
"I was informed this morning of his intentions. We fully expected LeBron to opt out and exercise his free-agent rights, so this does not come as a surprise," Heat president Pat Riley said in a statement. "As I said at the press conference last week, players have a right to free agency and, when they have these opportunities, the right to explore their options."
Renegotiating with the Heat after talk of Wade taking a reduced package, moving to another powerhouse, or returning to the Cavs?
Part of me thinks Cavs, but how badly did Gilbert burn that bridge?
If he's selfish, are his best bets LA and NY to hit the big markets?