June 24, 2014 9:12 am

LeBron James to opt out of contract with Miami Heat: report

Miami Heat forward LeBron James watches action against the San Antonio Spurs during the second half in Game 1 of the NBA basketball finals on Thursday, June 5, 2014 in San Antonio.

AP Photo/Eric Gay

MIAMI – 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 US$42.7 million remaining on his deal with the Heat. In his four seasons in Miami, the Heat have gone to the NBA final four times, winning twice.

© The Canadian Press, 2014

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