Cleveland Cavaliers Lebron James will reportedly opt out in his last year of contract with the team to seek free agency, sources revealed.

An ESPN report noted that the Cavs star will "bypass his 21.6 million player option" and become a free agent for the third time in the past six years.

The sources of the report also noted that James is not yet planning to meet with other teams after opting out from the Cavs.

This comes even after Cavs general manager David Griffin noted that James is part of the discussion about the roster of the team for the next season.

A similar Yahoo Sports report said that this already an expected decision from James since his representatives pushed for an opt-out clause in his two-year contract with the Cavs.

"Opting out and signing a new deal, then, allows James to pick up an extra $1.5 million or so for nothing, and would give him a higher starting salary off of which to base the year-over-year raises he'd receive if he were to sign a multi-year deal," explained the same report.

It added that being a free agent come summer next year will throw in a large amount of money for James since the league has a new contract for broadcast deals rights which cost around $24 billion.

Meanwhile, Business Insider noted that the last time James became a free agent was after his time in Cleveland last 2010 when he left to play for thee Miami Heat. He was able to win two championships with the Heat.

But he is not yet set to leave as he will reportedly stay until Cavaliers owner Dan Gilbert and Griffin can find other players to take his place in the team.

"The Cavaliers have plenty of decisions to make and negotiations to conduct for free agents Kevin Love, Tristan Thompson and Iman Shumpert," added Business Insider.

But the team earlier expressed confidence that their star player will stay with them.

"We've heard from him every day pretty much relative to our roster. It's been great. He's been very much engaged with us on a lot of different levels, so it's been positive," noted Griffin.

James recently led his team in the Finals game against the Golden State Warriors but they failed to to get the championship title after trailing behind the Stephen curry-led team.

He reportedly averaged 35.8 points, 13.3 rebounds, 8.8 assists and almost 46 minutes during the series.

It was also noted in the Business Insider report that teams are expected to negotiate with players on July 1 with the contracts commencing July 8.

If these reports are true, perhaps James was disheartened with their Finals loss to the Warriors that he plans to continue aiming for another NBA championship title with another team.