LeBron James accomplished his dream of bringing a championship back to Cleveland. Now, he's cashing in.
The reigning NBA Finals MVP opted out of his contract for the 2016-17 season Tuesday and will become an unrestricted free agent Friday, according to ESPN's Chris Broussard, who cited James' agent, Rich Paul. James, 31, was due to make $24 million next season, per Spotrac.
While James has said he will return to Cleveland, Paul told Broussard there is no timetable for signing a new deal. The move is largely seen as a formality.
Shams Charania of The Vertical reported on June 17 the NBA is projecting a salary cap of $94 million in 2016-17, a $24 million jump from this past season. For a maximum-level player like James, that represents a sizable potential pay raise. Because he has accrued 10-plus years of experience, he can max out at $30.8 million for 2016-17, per Charania, with annual raises of 7.5 percent over the length of his contract.
The Cavaliers don't have James' full Bird rights because he only returned to Cleveland two years ago, so they're limited in the amount they can offer him. His startin ...
Read Full Article at Bleacher Report - NBA
Article written by Tyler Conway
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