The Cleveland Cavaliers might not have one of their key pieces back next season. Shooting guard J.R. Smith will not exercise his player option before the June 16 deadline and will become a free agent this summer, Cleveland.com reported Wednesday.

Smith, 30, has been inconsistent in the Finals, averaging 9.6 points on 39 percent shooting from the floor. He re-signed with the Cavs last summer, agreeing to a two-year deal worth $10.3 million.

Smith will opt out of the final $5.4 million of the deal and hit the free-agent market with the salary cap expected to balloon to $92 million because of the new TV contracts.

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Smith averaged 12.4 points, shooting 40 percent from beyond the 3-point arc in the regular season. He was named Sixth Man of the Year during the 2012-13 season while with the Knicks.