LeBron opts out, becomes a free agent in Cleveland

CLEVELAND, June 28 (UPI) -- He may have chosen free agency instead of his current deal with the Cavaliers, but LeBron James intends to re-sign with the team, sources said.

James, who becomes a free agent on July 1, turned down his $21.6 million player option. It is the third time in six years that James has been an unrestricted free agent.

ESPN's Chris Broussard reported that James does not plan to meet other teams.

James will now get a new salary of $23 million next season, according to the New York Post.

Kevin Love and J.R. Smith each opted out last week. James has told multiple sources that he only wants to work on his contract after the team negotiates deals for the other players on the roster.

Iman Shumpert and Matthew Dellavedova are both restricted free agents.

James is expected to sign another max contract with another opt out after one year. He could then opt out in the summer of 2016, when the NBA enforces a higher salary cap. The salary cap boost is a result of the league's new $24 billion TV contract.

"Expected," Cavaliers coach David Blatt told Cleveland.com. "And, of course, hopeful that it will all work out fine."

James averaged a mind-blowing 35.8 points, 13.3 rebounds, and 8.8 assists in the Cavaliers' NBA Finals series loss to the Golden State Warriors.