J.R. Smith officially opts out of contract

Four hours before the 11:59 p.m. deadline to opt in or out of his contract, J.R. Smith hadn't notified the Cleveland Cavaliers of his decision. According to Cavs GM David Griffin, when 11:59 p.m. came, Smith never notified the Cavs one way or the other and became a free agent by default.

Smith's salary for next would have been $6 million had he opted in. After the Cavs' Game 6 loss to the Golden State Warriors in the NBA Finals, Smith told reporters that he planned on opting out. Earlier this week, it was reported that Smith was in fact planning on opting out but there was a 'mutual interest' between Smith and the Cavs regarding a new deal.

Griffin also noted that Cavs forward LeBron James hasn't officially notified the Cavs whether he not he'll be opting out, but he's been 'very much engaged' in Cleveland's offseason thus far.

Smith played 46 games with the Cavs after being acquired from the New York Knicks in January. With Cleveland, he averaged 12.7 points while shooting 42.5 percent from the field and 39 percent from deep. Free agency officially begins on July 1.