LeBron Opts Out Of Contract

UNDATED (AP) — As expected, LeBron James has reportedly opted out of his contract with Cleveland. A person with knowledge of the decision tells The Associated Press that James will not exercise a $21.6 million option on his contract, making him a free agent on July 1.

The move allows him to sign a bigger one-year contract before looking to cash in on an even bigger deal in 2017 when revenue increases from new TV contracts.