Sportress of Blogitude

Report: LeBron James declines player option, becomes free agent

As expected, LeBron James on Friday declined the $35.6 million option on his contract with the Cleveland Cavaliers and become a free agent, multiple sources have confirmed to Cleveland.com.

James did have until 11:59 Friday to inform the Cavaliers of his decision, but James’ agent Rich Paul reportedly has informed the team of his client’s intentions.

That said, it’s unlikely James will agree to a deal of such length given his history related to such contract matters, although everything remains up in the air at this moment.

James could of course still return to the Cavs, and for more money than any other team can pay him. The Cavs can give him a new, five-year contract worth $207.4 million, based on a current projection of a $101 million salary cap in the NBA for next season. The most another team could offer is four years and $152.3 million.

James’ camp has gone to great lengths to deny and dispute each and every rumor and report related to what James intends to do next. Starting on midnight ET Sunday, teams can begin negotiating with free agents. With James now in the mix, things should reach frenzied proportions. It will be a wild scene, indeed