LeBron James has revealed that he is not going to accept a contract extension from the Cavaliers after the upcoming season.

This would mean that James is inclined to explore his options in free agency next year.

LeBron was in Akron, Ohio, to present the Nike Air Maz LeBron Vii, his latest offering in his line of Nike sneakers, when he made comments about his future. The six-year veteran said he signed his short three-year deal to give him more flexibility next offseason.

"I signed a contract in 2006 with an option, and it would make no sense for me to sign that contract if I didn't keep my options open," he said. "I'll let you fill in the blanks."

The Cavaliers offered James a contract extension on July 18, the three-year anniversary of the signing of his current contract. The team could offer the extension -- at the highest salary allowed -- of up to three years. James can sign the extension offer any time before June 30, 2010.

James, who will make $15.7 million next season, also has an option in his current contract that can extend his deal through the 2010-11 season.

However, it appears for now that James does not intend to sign the extension or pick up his one-year option for $17.1 million anytime soon.

The 24-year-old superstar said his agent, Leon Rose, and Cavaliers general manager Danny Ferry have had "a great conversation." But James remained noncommittal about his plans beyond the upcoming season, one he hopes ends with the Cavs, who acquired All-Star center Shaquille O'Neal shortly after their season ended, winning their first NBA title.

James was similarly positioned in 2006, when he decided to sign a three-year extension with the Cavs.

Despite James' insistence that he's happy in Cleveland, his choice to delay his decision is certain to spark more speculation that he'll sign with another club next summer. James has maintained that he's pleased with the Cavs' direction, owner Dan Gilbert and Ferry's attempts to add more talent to Cleveland's roster.

James said he isn't worried about his contract situation becoming a distraction.