LeBron James turns down player option, heads for free agency

Though he isn’t expected to leave the Cleveland Cavaliers, LeBron James is headed for free agency after he officially declined the player option in his contract.

James, fresh off guiding the Cavaliers to their first NBA title, turned down a $24 million salary for the 2016-17 season. He faced a June 29 deadline for his decision.

He could sign with a different team for $30.8 million next season, or if he wants to return to Cleveland on a one-year contract, he could get only $27.5 million due to the team’s salary-cap situation, according to ESPN.com. The report indicated he could get a two-year, $64 million contract from the Cavs.

James, an Akron, Ohio, native, has indicated that he intends to stay with his hometown team.

“I love it here. I love being here. I love my teammates,” James recently told the Cleveland Plain Dealer. “Obviously my agent will take care of all the logistical things, but I’m happy. I’ve got no plans to go nowhere at this point.”

James, 31, was a unanimous choice as NBA Finals MVP after leading the Cavaliers back from a 3-1 deficit to beat the Golden State Warriors. He averaged 29.7 points, 11.3 rebounds and 8.9 assists during the seven-game series.

During the regular season, James averaged 25.3 points, 7.4 rebounds and 6.8 assists. He came in third in MVP balloting behind unanimous winner Stephen Curry of the Warriors and defensive player of the year Kawhi Leonard of the San Antonio Spurs.

James is a three-time NBA champion, a three-time Finals MVP, a four-time regular-season MVP and a 12-time All-Star.

Assuming James returns, the Cavaliers look to be in good shape for next season. The team’s unrestricted free agents are reserves Timofey Mozgov and Richard Jefferson, while backup guard Matthew Dellavedova will be a restricted free agent this summer.