LeBron James to opt out of deal, plans to re-sign with Cavaliers

LeBron James will not exercise a $21.6 million option on his contract for next season, according to a person with knowledge of the decision.

James’ decision has been widely expected for months. The approach allows him to sign a new maximum contract — likely another two-year deal with a player option for 2017-18 — that will pay him more than he would have made under his previous contract.

His max number for next season, which is tied to how high the salary cap rises, is expected to be more than $22 million.