LeBron James NBA free agency: Cleveland Cavaliers legend declines player option to become free agent

James had an option to pick up a $35.6m contract clause for another year with the Cavs but his agent told local media that he has declined the option and will thus become a free agent

LeBron James, who many believe could overtake Michael Jordan as the greatest player in basketball history, will become a free agent this off-season and spark a scramble for his signature.

The Cleveland Cavaliers star is a legend with the franchise after ending their 52-year wait for a championship but has decided to move on to pastures new after losing three of the last four finals to the Golden State Warriors.

James had an option to pick up a $35.6m contract clause for another year with the Cavs but his agent told local media that he has declined the option and will thus become an unrestricted free agent.

The market to sign one of the planet’s most marketable sportsmen will be fierce, with the Los Angeles Lakers expected to lead the chase given the extra commercial opportunities that playing in LA might bring.

LeBron James becomes a free agent this summer (Getty)

Whoever LeBron signs for will instantly become a championship contender and such is his power that the multiple-time MVP award winner is likely to attract guarantees over which other players will be brought in to play alongside him and assemble a team that could topple the Warriors.

It means that the free-agency market for other players will likely slow as everyone waits to find out what James will do.

While the Lakers are overwhelming favourites to sign him, with the expectation that another high-level free agent like Paul George might also sign, in the Eastern Conference, the Boston Celtics and Philadelphia 76ers are the most likely destinations.

The 76ers are a playoff team with significant cap space and rising stars in place already but they can’t offer the same lifestyle or benefits as Los Angeles, where James already owns two properties and a business.