Jul 01, 2008 8:24 AM EST

After a strong Finals performance, James Posey has chosen to become a free agent rather than picking up his player option with the Celtics, the Boston Herald are reporting.

Posey is reportedly looking for a mid-level deal that starts at approximately $5.8 million and carries over 4-5 years.

It is believed that Cleveland are putting together an offer in addition to the Detroit Pistons, New Orleans Hornets, Los Angeles Lakers, and Houston Rockets.

Via Boston Herald