LeBron James Informs Cavaliers He Will Not Exercise $35.6 Million Contract Option

There aren’t too many people in the world who can afford to pass up $35.6 million, but LeBron James is one of ’em.

James has chosen not to exercise a $35.6 million player option on his contract that would keep him in Cleveland with the Cavaliers, according to Cleveland.com reporter Joe Vardon.

By not opting into the deal, James will become an unrestricted free agent on Sunday.

However, that doesn’t mean he won’t come back to Cleveland as the Cavs can pay him far more than any other team can offer thanks to the intricacies of the NBA salary rules.

Based on a current projection of next season’s salary cap, the Cavs can sign James to a five-year contract worth $207.4 million. The most another team could offer is four years and $152.3 million.

Brian Windhorst, who almost exclusively reports on James for ESPN, had this to say via Twitter: “This decision is favorable to the Lakers chances, hurts the Rockets chances and the Cavs remain firmly in mix.”

Expect the information, and disinformation, about what James is going to do to keep coming until he signs on the dotted line in Cleveland, Los Angeles, Houston or elsewhere.