LeBron James opts out of contract option, is now an unrestricted free agent

Posted at 11:20 AM, Jun 29, 2018

LeBron James has opted out of a one-year contract extension with the Cleveland Cavaliers that would have paid him $35.6 million this season, according to the Associated Press.

James is now an unrestricted free agent, which means the four-time MVP could sign a longer-term deal with the Cavs – or with another team.

This is the third time James has hit the free agent market. In 2010 he left the Cavs for the Miami Heat. In 2015 he left Miami and returned to Cleveland and signed a three-year deal.

James typically chooses to sign short-term deals, which ultimately net him more money thanks to an exploding NBA salary cap.

Where James ends up remains anyone’s guess. NBA rules allow the Cavaliers to offer James the most money, but James has been rumored to be eyeing other teams, notably the Los Angeles Lakers.

James announced his decision to go to Miami in 2010 on July 8. He announced he was returning to the Cavs in 2015 on July 11.