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Report: LeBron James Opts Out of Contract, Becomes Free Agent

by: JamieD On  Wednesday, June 29, 2016
Image via Getty

Image via Getty

In a move that was expected this offseason, LeBron James as declined his $24-million players option with the Cleveland Cavaliers for the 2016-17 season in order to become a free agent.

Now, before all of you Cavs fans start burning your LeBron jerseys, you should know that King James is only doing this in order to take advantage of the anticipated salary cap increase due to the league’s new television deal.  It is fully expected that LeBron will re-sign with the Cavs on a one-year deal for somewhere around $27.5-million, with a player option for the 2017-18 season—in case the salary cap jumps again or he decides he wants to leave.

But for now, LeBron is officially a free agent.  You can bet several teams will try to convince him to leave Cleveland now that he’s brought the suffering city a championship.  The big question is, will LeBron listen?

Hat Tip – [ESPN]



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