Report: LeBron James opts out of contract

Report: LeBron James opts out of contract

CLEVELAND, OH (WOIO) - LeBron James opted out his contract with the Cleveland Cavaliers Tuesday night, according to his agent in an article on ESPN.com.

James was expected to opt out of his two-year deal for $24M and become a free agent. Free agency opens July 1.

The NBA World Champion and three-time Finals MVP confirmed last week he was returning to Cleveland. A king has to defend his kingdom, after all.

This is expected to be just a business move to maximize his contract. The NBA salary cap is going up, James will most likely look for a max contract that could be worth close to $30M a season, and he may now be looking to sign long term.

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