LeBron James Now a Free Agent; Trade Likely to Happen?

It has been confirmed that LeBron James will be opting out of the Miami Heat early to enter the free agent market on July 1.

In a report by CBS Sports, choosing the early-termination option does not instantly mean that James will no longer be playing with the Miami Heat. By entering free agency, he is imposing on the Heat to provide him with the best possible offer suitable to his talents. James has clearly expressed in the past that he is willing to take pay cuts as long as improvements in the roster would be made.

Pat Riley, President of the Miami Heat, said that he expected LeBron James to opt out weeks before.  He said, "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." According to Riley, the Heat does not need to rebuild but only to "retool".

USA Today reports that a number of NBA teams have already showed their interest in acquiring the superstar. Included in the list are the Chicago Bulls, Cleveland Cavaliers, Houston Rockets, Phoenix Suns, Los Angeles Clippers and even the Los Angeles Lakers. All these teams can form a "Big Three" at least should James join their side.

The Washington Post has written that the NBA collective bargaining agreement allows the Heat to offer James a contract for five years, worth $127.7 million. Should James be traded to other teams, they will max out at $94.8 million for a four-year deal. Aside from the Heat, only five other NBA teams can afford James at $23.7 million every year without any extras. These are the Phoenix Suns, Los Angeles Lakers, Dallas Mavericks, Utah Jazz and Philadelphia 76ers. Utah and Philadelphia do not seem to find James a priority in the meantime.

As for the Lakers, the possibility is quite remote since it is unlikely that Kobe Bryant would be willing to split his ball possession or leader role with James. Joining the Clippers or Rockets are both good trade options for James. He can play with Harden and Howard in Houston or Chris Paul and Blake Griffin in Los Angeles to form a new "Big Three". However, these teams have to give up key players to trade for James. There are also rumors that LeBron and Carmelo Anthony might rendezvous in Chicago and create a "Big Four" with Derrick Rose and Joakim Noah.