Richie Paul, the agent for LeBron James, has informed the Miami Heat that the all-star forward will exercise the opt-out clause in his contract and becoming an unrestricted free agent.
ESPN.com NBA Insider Chris Broussard first reported the news.
James could have earned $20 million next season if he had opted in to his current deal, and more than $40 million over the next two seasons. He had until June 30 to inform the Heat of his plans.
His decision to opt out does not necessarily conclude that he is leaving the Heat, but it does increase the possibility of him returning to the Cleveland Cavaliers.
More intriguing is that James' decision comes a few days after his wife, Savannah, posted on her excitement about returning to Akron, Ohio.
Savannah James revealed her feelings Sunday on Instagram, posting a picture of the state of Ohio with the word Akron printed in capital letters next to a star, indicating the city's location. The picture was accompanied by the words: "Home sweet home!! The countdown is real! #330."
LeBron James first offered a hint of possibly becoming a free agent immediately after the Heat were dethroned by the San Antonio Spurs in the NBA Finals. James stated that he would consider his future after vacationing with his family.
While Miami will be favored to retain James' services, with Cleveland a not-too-distant second, many teams will be maneuvering to acquire him.
James is the best player in the NBA. He averaged 27.7 points, 6.9 rebounds and 6.4 assists during the 2013-2014 regular season.
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