LeBron James May Opt Out

Rumors are that +LeBron James may opt out of his contract with the +Miami HEAT. LeBron James’ agent Rich Paul has informed the Miami Heat that the four-time NBA MVP will exercise his early termination option and become an unrestricted free agent on July 1.

Opting out does not mean that James has decided to leave the Heat. James had until June 30 to decide whether to opt out of the final two years of his contract with Miami. He was scheduled to make $20 million next season and had two years and about $42.7 million remaining on his deal.

“The last four seasons have been historic, and LeBron James, Dwyane Wade, Chris Bosh and Erik Spoelstra have led the Miami Heat to one of the most unprecedented runs in the history of the NBA. We look forward to sitting down with LeBron and his representatives and talking about our future together. At the moment, we are preparing for the opportunities in the draft and free agency as we continue with our goal of winning NBA championships.”

After Miami’s season-ending loss to the San Antonio Spursin Game 5 of the NBA Finals, James told reporters he would take a vacation with his family before considering his contract options. James indicated that he welcomed the opportunity to become a free agent and have the same level of flexibility he was afforded in 2010, when he signed with Miami after spending his first seven years in Cleveland.

In his four seasons in Miami, the Heat have gone to the NBA Finals four times, winning two championships. James could join Shaquille O’Neal as the only players in league history to lead the NBA Finals in total points scored and then play for a different team to start the following season, according to the Elias Sports Bureau. O’Neal played for the 2003-04 Los Angeles Lakers, who lost to the Detroit Pistons in the NBA Finals, and was traded to the Heat in the offseason.