James didn't plan to announce a free-agent decision Wednesday night and had not met with his other primary option, the Cleveland Cavaliers, sources said.
If James does choose to leave the Heat, free agent Chris Bosh will sign with the Houston Rockets, sources said. James not rushing to make a choice could put a time squeeze on Bosh. Though he hopes to remain with the Heat along with James, sources said, Bosh has secured a backup offer for four years and $88 million from the Rockets.
The Rockets' position, however, got more complicated on Wednesday when their restricted free agent Chandler Parsons agreed to a three-year offer from the Mavericks for more than $45 million, sources said. Once Parsons signs the offer sheet, which could be as early as Thursday, the Rockets will only have three days to match.
If the Rockets match, they will lose the requisite cap space needed to sign Bosh. They can match the offer and still afford Bosh, but only if they sign Bosh first. To make room for Bosh, the Rockets will need to execute at least two trades, likely involving Omer Asik and Jeremy Lin, to clear cap space.
The Heat were represented at the meeting by president Pat Riley and general manager Andy Elisburg. James was joined by his agent, Rich Paul. This was the first known face-to-face meeting James has held since officially becoming a free agent on July 1.
James spent the morning and the evening working out and speaking to high school and college stars at his LeBron James Skills Academy basketball camp.
The Heat planned to talk to James about their latest free-agent commitments, forwards Josh McRoberts and Danny Granger, in addition to going over roster possibilities with him. Currently, the Heat have only four players expected to be under guaranteed contract for next season on their roster.
Information from ESPN.com's Ramona Shelburne and Marc Stein was used in this report.