AP source: LeBron will become free agent

Miami Heat's LeBron James listens to a question during an NBA basketball media availability at the NBA Finals, Wednesday, June 11, 2014, in Miami. (AP Photo/Lynne Sladky)
Miami Heat's LeBron James listens to a question during an NBA basketball media availability at the NBA Finals, Wednesday, June 11, 2014, in Miami. (AP Photo/Lynne Sladky)

MIAMI (AP) — A person familiar with the situation tells The Associated Press that LeBron James has decided to opt out of the final two years of his contract with the Miami Heat and become a free agent on July 1.

Opting out does not mean James has decided to leave the Heat, said the person, who spoke on condition of anonymity because neither the four-time NBA MVP nor the team had made any public announcement.

James had two years and about $42.7 million remaining on his deal with the Heat. In his four seasons in Miami, the Heat have gone to the NBA Finals four times, winning two championships.

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