LeBron James to Opt Out of Contract with Miami

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Lebron jamesLeBron James will opt out of the final two years of his contract with the Miami Heat, making him a free agent after leading the franchise to four straight finals appearances, ESPN reported.

The 10-time All-Star’s agent informed the National Basketball Association team of James’s intentions, ESPN said today, without citing the source of the information. Tim Donovan, a spokesman for the Heat, and Maverick Carter, James’s business manager, didn’t immediately respond to e-mails seeking comment.

Opting out doesn’t preclude a player from re-signing with his team. For Miami, it would give the team flexibility under the league’s salary limit.

James, 29, was a free agent when he signed a six-year contract worth about $110 million with the Heat in 2010 and won two championships in four seasons in Miami. James was set to make $20.5 million and $22.1 million the next two seasons.

Read more at Bloomberg.