LeBron James is a free agent again.

James' agent, Rich Paul, confirmed to ESPN on Monday the reigning NBA Finals MVP has opted out of his $24 million player option with the Cleveland Cavaliers.

James will now become a free agent on July 1, but he is still expected to re-sign with the Cavaliers. 

"I love it here. I love being here. I love my teammates," James told Cleveland.com ahead of the team's victory parade. "Obviously my agent will take care of all the logistical things but, I'm happy. I've got no plans to go nowhere at this point."

James was named MVP of the NBA Finals as the Cavaliers won the Larry O'Brien Trophy for the first time in franchise history.

During the regular season, James averaged 25.3 points, 7.4 rebounds and 6.8 assists per game. 

He spent the first seven seasons of his career with the Cavaliers before departing for the Miami Heat. He spent four seasons with the Heat, winning two titles, before returning to Cleveland in 2014.