A report says LeBron James will opt out of this player option contract and become a free agent, according to espn.com.  The move will take effect July 1.

This will be the third time in the last six seasons that James will become an unrestricted free agent.  However, he is expected to re-sign with the Cavaliers   The Cavs are expected to tender an offer to James on Wednesday.

The Cavs also have to make a decision on unrestricted free agent Kevin Love and restricted free agent Tristan Thompson.  Both are expected to remain with the Cavaliers.