LeBron James is opting out of his contract with the Miami Heat. James was due to make $20 million this upcoming season in Miami. The speculation now will begin as the Clippers with Chris Paul and Blake Griffin would form a new Big Three is James heads to LA. LeBron's former team, the Cavaliers again have the first selection in the NBA draft which is on Thursday at the Barclays Center in Brooklyn. Perhaps heading back home is in the mix as well as entertaining discussions with the Bulls, Knicks and Lakers.

The Heat have been to four straight NBA Finals with James but failed to "three peat" earlier this month defeated by the San Antonio Spurs in five games.

PAT RILEY STATEMENT ON LEBRON JAMES MIAMI, FL – The following statement was released today:

"I was informed this morning of his intentions. We fully expected LeBron to opt-out and exercise his free agent rights, so this does not come as a surprise. As I said at the press conference last week, players have a right to free agency and when they have these opportunities, the right to explore their options. The last four seasons have been historic and LeBron James, Dwyane Wade, Chris Bosh and Erik Spoelstra have led the Miami HEAT to one of the most unprecedented runs in the history of the NBA. We look forward to sitting down with LeBron and his representatives and talking about our future together. At the moment, we are preparing for the opportunities in the Draft and Free Agency as we continue with our goal of winning NBA Championships."



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