Multiple reports are saying that Lebron James will not exercise his $35.6 million option to enter free agency.
Reporter Joe Vardon broke the news online around 10:40 a.m. Friday.
ESPN and other sports news agencies shared the same news shortly after.
James will now become an unrestricted free agent, making him free to sign with any team.
ABC 6/FOX 28 will continue to update this story.