Report: LeBron James will opt out of contract with Heat

LeBron James will exercise his early termination option and become an unrestricted free agent.

According to Chris Broussard of ESPN The Magazine, James agent, Richie Paul, has informed the Miami Heat of his decision.

“Opting out does not mean James has decided to leave the Heat, a person familiar with the situation told The Associated Press, who spoke on condition of anonymity because neither the four-time NBA MVP nor the team had made any public announcement.”

James had June 30 to decide whether to opt out of the final two years of his contract with the Heat that was scheduled to pay him $20 million next season.  James had

After the San Antonio Spurs beat the Heat in Game 5 of the NBA Finals, James said he would take a vacation with his family before considering his contract options.

Heat president Pat Riley released the following statement on Tuesday:

“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. 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. The last four seasons have been historic and LeBron James, Dwyane Wade, Chris Bosh and Erik Spoelstra have led the Miami HEAT to one of the most unprecedented runs in the history of the NBA. We look forward to sitting down with LeBron and his representatives and talking about our future together. At the moment, we are preparing for the opportunities in the Draft and Free Agency as we continue with our goal of winning NBA Championships.”

James, 29, spent his first seven seasons in the league with the Cleveland Cavaliers before joining the Heat in 2010.  He guided the Heat to four straight NBA Finals appearances, winning two championships.

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  • toddbook

    Can’t wait for the “take my talents to…” show again. We gonna win “Not 2, Not 3, Not 4, Not 5, Not 6, Not 7″ Can you say . . . OVER-RATED!