J.R. Smith officially opted out of his contract for next season, Shams Charania of RealGM reports.

Smith officially opted out of his contract for next season, Shams Charania of RealGM reports.

Analysis:

Smith was due to make $6 million next season, but he'll opt out in hopes of securing a longer-term deal. The mercurial guard, who played well through the first three rounds of the playoffs before imploding in the Finals, is said to be interested in returning to Cleveland, and the Cavaliers are believed to have mutual interest.