It seems like the rumors are true, Le Bron James has finally decide to opt out from his remaining two year contract with the Miami Heat and decided to be a free agent.

It was his agent, Rich Paul, who informed the Miami Heat that the two times Olympic Gold Medalist has decided to terminate his contract with the team. He still had until June 30 to make the decision but he opted to come out early. King James will be a free agent staring July 1. James decided to go on a vacation together with his family before making the crucial decision for his career future.

The 29 year old power forward, left his former team, the Cleveland Cavaliers in 2010 to work with Wade and Bosh and aimed for the NBA finals. He wanted to work with a team that can help him achieve his dream together and not as an individual.

There have also been talks that the two other players that consist of the big three, Dwyane Wade and Chris Bosh, may also decide to be a free agent when summer comes.

When asked about his position to the rest of the big three he said "There's a conversation that will be had between the three of us. I think it's only right. I think we've earned that for each other, to have a conversation and see what could possibly happen."

When Wade was asked regarding his option to terminate his contract early, he answered "No news here yet."

The big three has signed a six year contract with Miami Heat to form the Big Three. All of their contracts have stipulated that they had the option to terminate their contract and be a free agent starting 2014 or 2015. As a team of three, they have succeeded in pushing the Miami Heat in winning four Eastern Conference Titles with two NBA Championship trophies to bag.

According to Pat Riley, Miami Heat President when asked about the decision "Players have a right to free agency and when they have these opportunities, the right to explore their options." He added "We look forward to sitting down with LeBron and his representatives and talking about our future together."

He also told the press as to when he was informed of the changes "I was informed this morning of his intentions. We fully expected LeBron to opt out and exercise his free-agent rights, so this does not come as a surprise."