Carmelo Anthony decided to use the opt-out clause in his contract with the New York Knicks. A league source said that Anthony will be a free agent starting on July 1. The source revealed the news in anonymity, as he is not authorized to talk about the situation.

New York Knicks President Phil Jackson said that he asked Anthony to continue playing with the team, which will be under new management for the final year of his contract.

Opting out of his contract does not mean that Anthony can no longer play for the New York Knicks. He can still re-sign with the team if he chooses.

BREAKING: Carmelo Anthony will opt out of final season on current Knicks contract. (via ESPN and media reports) pic.twitter.com/7RjlzpUvEL

— SportsCenter (@SportsCenter) June 22, 2014

However, now that Anthony is a free agent, he is expected to have offers from the Miami Heat, Los Angeles Lakers, Houston Rockets, Chicago Bulls, and New York Knicks. Sources say that NBA teams can start talking to their free agent prospects on July 1, but official contracts cannot be signed until July 10.

@SportsCenter COME-TO-SOUTH-BEACH!!!!

— Dillon (@DillonH_6531) June 22, 2014

@SportsCenter CHICAGO!!!!!!!!!!

— ✈ David Novak ✈ (@Chitown2075) June 22, 2014

Anthony, 30, now has to make the biggest decision of his NBA career. Reports say that other teams will offer him as much as $96 million and a four-year contract, while the New York Knicks will offer him a five-year contract along with $130 million. No doubt, the compensation he is offered will be a big factor in his decision. He will, however, also need to decide on which team will give him the best chance of winning an NBA championship.

@SportsCenter Still Wont Win A Ring

— Brian Sporman (@BrianSporman) June 22, 2014

Anthony has not been a free agent since he was drafted by the Denver Nuggets in 2003. He played with the Nuggets until 2011, until they traded him to the New York Knicks.

The Knicks haven’t advanced to the Eastern Conference semifinals in Anthony’s more than three seasons in New York. With Derek Fisher as the new Knicks coach, the team is hoping to improve their play. Anthony now needs to decide if he will stick with his former team under new management, or if he will transfer to another team to seek other opportunities.

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