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As expected, LeBron James will be declining his $24 million player option for the 2016-17 season and becoming a free agent on July 1. James has already confirmed that he will be staying in Cleveland and trying to defend the Cavs title in 2017, but anytime the best basketball player in the world hits the market, even if it’s only for a few hours, it’s always interesting.
James is expected to be signing a max deal which could pay him $30 million annually. Via ESPN:
Finals MVP LeBron James will not exercise his player option with the Cleveland Cavaliers for the 2016-17 season, according to his agent, Rich Paul.
James, who had to inform the Cavs of his decision by Wednesday at midnight, will become a free agent July 1 for the third straight summer. He was slated to earn $24 million next season.
Though he has opted out, James can re-sign with the Cavaliers and said last week he has no intentions of leaving Cleveland again.
“I love it here in Cleveland. I have no intentions of leaving,” James told ESPN’s Dave McMenamin during the Cavaliers’ championship parade. “There are some technicalities to take care of I’ll leave up to my agent. That’s right from the horse’s mouth.”