What would you do if you were LeBron James? Continue on with your Heat contract, hope that Dwyane Wade’s knees hold up, and hope the team adds a better bench? Opt out, test free agency, but perhaps wind up staying with the Heat? Or leave South Beach (well, Miami) and take your talents elsewhere? Here’s ESPN.com with news on this situation:

LeBron James’ agent, Richie Paul, has informed the Miami Heat that James will exercise his early termination option and become an unrestricted free agent on July 1.

Opting out does not mean James has decided to leave the Heat, a person familiar with the situation told The Associated Press, who spoke on condition of anonymity because neither the four-time NBA MVP nor the team had made any public announcement.

James had until June 30 to decide whether to opt out of the final two years of his contract with the Heat. He was scheduled to make $20 million next season.