Only a year after rejoining the Cleveland Cavaliers and taking them to the Finals, LeBron James is set to once again hit the open market as an unrestricted free agent.
The superstar has elected to decline his player option with Cleveland for the upcoming season, according to reports, which means the world’s best player will hit free agency for third time in six years on Wednesday.
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The decision, however, is considered strictly financial and not an attempt to change uniforms again.
James is expected to stay with his hometown Cavaliers by inking a new maximum contract, which will pay him north of $22 million – compared to the $21.6m option he turned down – depending on how high the salary cap rises for 2015-16.
As he did when returning to Cleveland last summer, James will most likely sign for another two years with a player option for 2016-17, allowing him to again become a free agent just before the salary cap and maximum contracts takes a massive jump thanks to the start of the NBA’s new television deals next year.
While all indications point to James remaining with the Cavaliers, the previous two occasions when he was a free agent resulted in unpredictable destination switches – in 2010 when he left Cleveland for Miami and last summer when he returned to Ohio despite reaching four straight NBA Finals and winning two titles with the Heat.
The four-time MVP carried the Cavaliers in his fifth straight Finals earlier this month, averaging 35.8 points, 13.3 rebounds and 8.8 assists in the 4-2 loss to the championship-winning Golden State Warriors.
James was without co-stars Kyrie Irving and Kevin Love, who both suffered season-ending injuries earlier in the playoffs.
Love has also declined his player option for the upcoming campaign and he will join James as an unrestricted free agent.
The 26-year-old forward had a challenging first season in Cleveland, averaging 16.4 points and 9.7rebounds, well below his monster marks of 26.1 points and 12.5 rebounds with Minnesota in 2013-14.
When asked by a reporter on May 31 before the start of the Finals whether he would be suiting up for the Cavaliers next season, Love responded: “Yes sir.”
Several teams around the league are expected to make strong pushes to lure Love, including the Los Angeles Lakers and Boston Celtics.
Unlike James, Love could opt for the long-term security of the five-year, $110m offer from Cleveland as insurance for his recent shoulder and back injuries.
Tristan Thompson will also be a free agent, though he’ll be restricted with the Cavaliers holding matching rights on any deal signed with another team. Notably, the 24-year-old forward is represented by James’ agent Rich Paul.
The free agency period begins tomorrow, but teams can’t officially sign players until July 8.
