Break out your "take my talents" jokes from 2010. LeBron James reportedly has exercised his early termination option for the 2014-15 NBA season and will become an unrestricted free agent on July 1.
ESPN's Chris Broussard reports Rich Paul, LeBron James' agent, has informed the Heat of his client's decision:LeBron James' agent Rich Paul has told Heat LeBron will exercise early termination option
— Chris Broussard (@Chris_Broussard) June 24, 2014
The Miami Heat forward was due $20.59 million for next season, which could have been his fifth with the club. James' six-year, $109.83 million contract carried early termination options for both the 2014-15 and 2015-16 seasons.
Speculation about James' potential departure has run rampant for much of the season. Almost half the league will have significant cap space this summer, most notably the Los Angeles Lakers. James will lead a free-agent class that also includes friend Carmelo Anthony, though it's far more surprising to see the four-time NBA MVP's name on the open market."At this point, I can’t," James told NBATV in February when asked if he could see himself leaving the Heat. "At this point, I can’t. We don’t know what can happen from now to July, so what I’ve been able to do this whole season to this point is just worry about what’s at hand and that’s winning another championship."
While understandably worrisome, James opting out far from ends his Heat career. Under the NBA's collective bargaining agreement, Miami can offer him a five-year maximum deal worth roughly $115 million. Other teams are limited to a four-year pact maxing out at $85 million. That $30 million can make all the difference for even someone of James' financial means.
Opting out merely allows James to assess his options. Dwyane Wade's prime has either already been passed or close to it. Chris Bosh has disappeared in three consecutive postseasons against the Indiana Pacers and turned 30 in March. Both have the same ETO as James.Ray Allen turns 39 in July and is hitting free agency, Shane Battier is retiring and Mario Chalmers can walk this summer. Udonis Haslem and Chris Andersen each have player options, though it'd be a surprise to see either opt out.
There are a ton of moving components here, each of which will have to be solved by Pat Riley.The Heat, despite their aging roster and noticeable foibles, have won two NBA championships and gone to four straight finals over the past four seasons. It would have been an historical anomaly to see James walk away at the pinnacle of an ongoing dynasty. But Riley needs to provide James with a cogent plan on how to rebuild the talent surrounding the Big Three. Miami is well over the projected salary cap if you include cap holds and is nearing the dreaded repeater tax bracket.Given the Heat amnestied finals hero Mike Miller to reduce their tax last summer, this is no longer the no-brainer situation James walked into.
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