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LeBron James Opts Out Contract With Cleveland Cavaliers

By Quenton S. Albertie

Jun 19, 2016; Oakland, CA, USA; Cleveland Cavaliers forward LeBron James (23) dunks the ball against Golden State Warriors guard Klay Thompson (11) in game seven of the NBA Finals at Oracle Arena. Mandatory Credit: Marcio Jose Sanchez-Pool Photo via USA TODAY Sports
Jun 19, 2016; Oakland, CA, USA; Cleveland Cavaliers forward LeBron James (23) dunks the ball against Golden State Warriors guard Klay Thompson (11) in game seven of the NBA Finals at Oracle Arena. Mandatory Credit: Marcio Jose Sanchez-Pool Photo via USA TODAY Sports /
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LeBron James has opted out of his contract with the Cleveland Cavaliers. He has already said he’ll return, but on what kind of deal?

In news that doesn’t surprise, LeBron James has opted out of his contract with the Cleveland Cavaliers, according to ESPN‘s Chris Broussard.

There is the possibility James will sign another two-year deal with a player option after this one to maximize his NBA earnings as the NBA salary cap is expected to rise to $108 million in the 2017-18 season, according to DraftExpress‘ Jonathan Givonny.

This year, James could seek a long-term contract as well. As he approaches 32, capitalizing off of bringing a championship to Cleveland in historic fashion and his individual dominance along the way could be his best move. Though he reportedly prefers waiting until 2017 to sign a long-term deal he’d have to ask, what’s a better time than now, when he has the most leverage to make any deal he can possibly have?

In the 2016 NBA Finals, James averaged 29.7 points, 11.3 rebounds, 8.9 assists, 2.6 steals, and 2.3 blocks per game while shooting 49.7% from the field and 37.1% from three-point range. That was good enough to  be the unanimous NBA Finals MVP by delivering Cleveland their first major professional sports championship since 1964.

For comparison, Harrison Barnes is a player who was long considered worthy of a max contract. In 2016 NBA Finals, Barnes averaged 9.3 points, 4.4 rebounds, 1.4 assists, 0.7 steals, and 0.4 blocks while shooting 35.2% from the field and 31% from three-point range.

This year, James is all in with the Cleveland Cavaliers.

James has been forthcoming about his plans to stay since the championship parade. The only question is whether a long-term deal can get done.

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If he signs a max contract this year, he’ll be able to make $30 million. If he waits til next year, that figure jumps to $35 million. Additionally, the salary cap could be higher than projected again, and LeBron could stand to make an even higher salary than that. Yet, there are no guarantees in sports and striking while the iron is hot could be what’s best for the King.

As it currently stands, if James resigns for one year then signs a 5 year max deal in 2017, he could make $242.8 million over six years, and that’s not including the $1 billion he already makes in endorsements, according to GQ.

LeBron has options, but Cleveland can guarantee him the most money. Or LeBron could leave the extra cash on the table and sign elsewhere, but that’s not really going to happen, is it?

Next: The Cleveland Cavaliers Should Sign Free Agent Dwyane Wade

LeBron is about to become the highest paid player in NBA history. As he is expected to defend his championship in Cleveland, anticipate him being a major factor in recruiting other players to join the Cavs.