LeBron James is apparently headed into unrestricted free agency this summer. According to multiple reports, James is declining his $35.6 million contract option for next season. The news was first reported via Twitter by Joe Vardon of Cleveland.com.

James had until 11:59 p.m. to express his intentions to the Cavs and his agent Rich Paul informed the team Friday morning, said the people who spoke to the Associated Press on condition of anonymity because the sides are not publicly commenting on moves ahead of free agency opening Sunday.

The three-time champion is now the most coveted prize in an NBA free-agent class that includes All-Stars Paul George and Chris Paul. Teams can begin negotiation with free agents at 12:01 a.m. Sunday.

LeBron James was in the 2017-18 Kia MVP mix all season long.

The decision to decline the option for 2018-19 was expected by James because it gives him more options, which includes him re-signing with the Cavs, who can offer him a five-year, $209 million contract. James can also sign a short-term deal with Cleveland, something he has done each year since returning in 2014.

In 2010, he bolted for Miami and spent four seasons with the Heat, winning two titles, before returning home to Northeast Ohio.

While the decision may cause some anxious feelings in Cleveland, ESPN's Dave McMenamin reports (via Twitter) that James' decision to not opt in isn't a harbinger of the end of LeBron's time with the Cavs:

Had LeBron opted in, that would have been a bad sign for Cleveland -- it would basically have meant that his camp had a trade partner lined up. As it stands now, CLE is still in the mix. According to a Cavs source, the team's "Plan A, B & C in free agency is to keep LeBron"

David Aldridge of Turner Sports reports via Twitter LeBron's opt-out makes it harder for the Houston Rockets to acquire him this summer, but may help the Los Angeles Lakers in landing him.

James’s decision to opt out makes a potential trade with the Rockets less likely. It helps the Lakers, who would like to use their existing assets to make a Kawhi Leonard trade, and use their cap space to make James a max contract offer.

Additionally, reports ESPN's Ramona Shelburne (via Twitter), James' move helps other teams interested in him as well:

What LeBron deciding to go through with free agency does is remove some of the pressure on his free agent suitors with cap space like LA & Philly. Lakers in particular had been pushing to answer the Kawhi question before LBJ had to make this decision.

James said he’ll factor family into his next choice and there’s still a chance he’ll re-sign with the Cavs, who were swept by Golden State in this year’s Finals.