LeBron James Opts Out of Deal with Miami Heat

Rich Paul, LeBron James’ agent, has informed the Miami Heat that the four-time NBA MVP intends to opt-out of his last two years in his contract, and will become a free agent on July 1^st.

The news, first reported by ESPN’s Chris Broussard, explains that James had until June 30^th to decide whether he decides to exercise the early termination clause on his contract with Miami. This will allow him to cancel the remaining years and $42.7 million on the deal he signed in 2010.

This does not mean that James will be leaving the Heat, for it is possible that he may even re-sign a restructured contract – but there is no guarantee. There have been speculations that he might return to his original club, the Cleveland Cavaliers, which is located near his hometown of Akron, Ohio.

Last week in his exit interview after the Heat lost to San Antonio in the NBA Finals, James addressed the appeal of having flexibility.

“Being able to have flexibility as a professional, anyone, that’s what we all would like. That’s in any sport, for a football player, a baseball player, a basketball player, to have flexibility and be able to control your future or your present. I have a position to be able to do that. … There’s a lot of times that you’re not in control of your future as a professional.”

James’ wife, Savannah, recently posted a photo of the couple’s hometown, Akron, on Instagram that seemed to have caused a social media frenzy, even though it was only related to her annual trip home for the summer. The caption, which sparked debate over whether it was foreshadowing, writes: “Home sweet home!! The countdown is real!  #330.”

In addition to the Cavaliers, other teams that have showed interest in James include the Houston Rockets, Chicago Bulls, Los Angeles Clippers and Los Angeles Lakers.