CLEVELAND, OH (WOIO) - Cavaliers star LeBron James has informed team officials that he intends to opt out of the final contract year with Cleveland and will become an unrestricted free agent, according to reports.
LeBron James has informed the Cavs he won’t opt into his contract. This decision is favorable to the Lakers chances, hurts the Rockets chances and the Cavs remain firmly in mix.
— Brian Windhorst (@WindhorstESPN) June 29, 2018
Can confirm this. https://t.co/TeOYyRJJKO
— Ramona Shelburne (@ramonashelburne) June 29, 2018
James will decline the $36.5 million contract option for the 2018-19 season.
By declining, James has several options moving into free agency.
He can still resign with the Cavs on a "one-and-one" contract, and then return to free agency during the 2019 offseason with a player option clause.
However, Cleveland can offer James more money than any other team.
The Los Angeles Lakers, Houston Rockets, and Philadelphia 76ers are rumored to be potential destinations for James if he does not renegotiate a contract with Cleveland.
James left Cleveland for the Miami Heat in 2010, where he won two championships. He rejoined the Cavaliers in 2014.
The NBA free agency period begins Sunday, July 1 at 12:01 a.m.
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