LeBron James Appears Headed to NBA Free Agency

Miami Heat superstar would become one of the most sought-out players in basketball history.
2:19 | 06/25/14

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Transcript for LeBron James Appears Headed to NBA Free Agency
Thank you. And the big news from one of the biggest stars in sports. Lebrebron James has become a free agent. Explore his options. Is this a way to leave the heat or force changes? Reporter: The king of the dunk, the no-look pass, and the crunch, may be on the market for a new empire to reign over. Lebron James, aka king James, announcing free agency Tuesday, just weeks after his team, Miami heat, melted in the NBA finals against the San Antonio spurs. In the team's fourth-straight finals. They were the better team. You know, that's why they're the champions. Reporter: While he's arguably the league's best players, not the best paid. Ranking ninth, just under $20 million a year. Not bad. But he took a pay cut in 2010, breaking Cleveland's heart, and moved to Miami. The much-mocked media stunt called the decision. Why might he go next? Opting out, the 29-year-old superstar has plenty of options, and could resign for more money. Miami still a top choice, offering Lebron the longest and most lucrative contract. And he could return home to Cleveland. If they get Lebron James, you could argue strongly they have more talent around him now than they had before when he was there and they won 66 games one year, 61 another. Reporter: His wife's instagram picture fueling speculation he might be doing that. The Chicago bulls and the Houston rockets are contenders, and the L.A. Clippers and Lakers are in the hunt. Wherever he goes next season, it's going to be a contending team. Reporter: But, of course, the most intriguing question, will he dump Miami and return to his first love? Cleveland. Odds are that's not going to happen. Here's why snagging him is so important. Since he came to the heat, the team brought in $1.4 billion and 24,000 jobs a year to the Miami economy. Whoa. That is huge. Didn't need a study for that. No. Figure that own out. Thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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