LeBron James Exercises Early Termination Option, Will Hit Unrestricted Free Agency

by June 24, 2014

LeBron James has taken the first step toward potentially leaving Miami this summer. The game’s top player has opted out of his deal with the Heat, and is now free to sign anywhere. Of course, he may be more interested in simply signing a longer deal and staying in Miami, or even restructuring his contract to lower his salary. Either way, it should be fun to follow. More from ESPN.com:

James, a four-time NBA MVP, had until June 30 to decide whether to opt out of the final two years of his contract with the Heat. He was scheduled to make $20 million next season and had two years and about $42.7 million remaining on his deal.


After Miami’s season-ending loss to the San Antonio Spurs in Game 5 of the NBA Finals, James told reporters he would take a vacation with his family before considering his contract options.


James did indicate 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.