LeBron James will exercise the early termination option on his contract with the Miami Heat, James' agent, Rich Paul, told the Heat, according to a person familiar with the decision.

The person requested anonymity because he was not authorized to speak publicly about the situation.

The decision comes six days before a deadline for James to declare free agency.

ESPN is reporting James could still choose to sign with the Heat in the offseason.

James has spent four seasons in Miami, winning two MVP awards and two NBA titles.

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