As to no surprise, it has just been reported by Cleveland.com that LeBron James will indeed opt out of his $21.57 million option.
— NEOMG Cavs (@PDcavsinsider) June 28, 2015
He is also expected to sign a new one-year deal with an option for the 2016-17 season.
James can officially sign a new contract on July 9, and his option deadline will pass on June 29.
Also, the reason for next year’s one-year option is so that James gets some sort of protection, should something physically bad happen to him this year. It also gives him and his personnel leverage power.