LeBron James has chosen not to continue his contract with the Miami Heat by triggering a termination clause in his contact that will make him an unrestricted free agent starting on July 1.
ESPN reports that James was slated to make $20 million next season, but decided to test the market after coming back from a trip with his family.
According to his agent, LeBron will exercise his early termination option and become an unrestricted free agent -> http://t.co/hNBJACHr7e— ESPN (@espn) June 24, 2014
The move does not necessarily mean James will leave the Heat, but the team will need to compete with other teams for his services. James came in second in NBA MVP voting for the 2013-2014 season and his Heat lost to the San Antonio Spurs in the NBA Finals.
Twitter, predictably, had a field day with the news.
Not 1. Not 2. ...well just 2 and then I'll opt out. -LeBron— SportsNation (@SportsNation) June 24, 2014
BREAKING NEWS: Heat fans have also opted out of their contracts making them free agents and can sign with any team LeBron James signs with.— Iceberg Slim. (@MacDaddyTee) June 24, 2014
LeBron opts out of contract with the Heat. Betting now open on whether he lands at The Upshot, 538, Vox, or Wonkblog.— Neil Irwin (@Neil_Irwin) June 24, 2014