LeBron a free agent after declining option on contract

CLEVELAND, OH - JUNE 22: LeBron James #23 of the Cleveland Cavaliers celebrates during the Cleveland Cavaliers 2016 championship victory parade and rally on June 22, 2016 in Cleveland, Ohio. (Photo by Jason Miller/Getty Images) *** BESTPIX ***
Jason Miller/AP

CLEVELAND (AP) LeBron James is a free agent after declining his player option for next season with the NBA champion Cavaliers.

The move was expected by James, who said last week he intends to remain with Cleveland. The 31-year-old star has been a free agent the past three summers, electing each time to sign one-year contracts with a player option. It's not yet known if he'll sign another short-term deal or a multiyear package.

James was scheduled to make $24 million next season.

He was named Finals MVP after he helped the Cavs overcome a 3-1 deficit and beat the Golden State Warriors. The three-time champion averaged 29.7 points, 11.3 rebounds and 8.9 assists in the series. James posted a triple-double in Game 7 as the Cavs ended Cleveland's 52-year championship drought.

He's in his second stint with the Cavs after leaving as a free agent in 2010.