LEBRON JAMES has decided not to exercise his player option for the 2016-17 season, thereby putting him on the open market when free agency begins July 1.

    However, this move was considered highly likely and does not jeopardize LeBron’s promised return to Cleveland following the franchise’s first championship. It is almost entirely a financial decision.

    “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.”

    On Tuesday night, however, James’ agent Rich Paul gave no insight into what type of contract his client would eventually sign with the Cavs or what the timetable is for his expected return to Cleveland.

    If he signs a one-year contract (or similar opt-out deal) for 2016-17, he can make roughly US$3 million more than he would have under the terms of the prior contract. James could then sign a multi-year deal worth about US$30 million per season next summer, when the cap could rise to more than US$100 million.

    If LeBron chooses to sign that long-term deal this July instead, he’ll still earn approximately US$30 million per season.

    Although his agent gives no indication of which deal LeBron wants to sign, it’s a safe bet that the Cavaliers will let him do whatever he wants. James proved in the NBA Finals that he remains a transcendent player when necessary. Furthermore, he’s now a folk hero in Cleveland. The franchise needs him and will submit to any terms as long as he is present to receive his championship ring on opening night.

    Clarifying LeBron’s status is by no means the only pressing issue for the Cavaliers and general manager David Griffin this offseason. Starting shooting guard J.R. Smith will be an unrestricted free agent, and the team is expected to consider trade offers for power forward Kevin Love.

    (SD-Agencies)