This doesn't necessarily mean that the four-year run that resulted in four NBA Finals appearances and two league titles is over.
It just means that James wants to explore his options -- which also likely means we're in for another circus like the one we saw in 2010, the last time he was a free agent.
Back then, numerous teams bent over backward to court James, who ended up announcing his choice to switch from the Cleveland Cavaliers to the Heat in a much-hyped and much-panned televised appearance called "The Decision."
The Heat lost to the San Antonio Spurs in five games during the NBA Finals earlier this month.
Follow @chewkiii on Twitter