June 12, 2014 at 12:09 pm

Report: Heat explore possibility of adding Carmelo Anthony

Carmelo Anthony, guarded by LeBron James in a game in April, averaged 27.4 points this season. (Robert Duyos / MCT)

Will the Big Three become the Big Four?

ESPN is reporting that Miami Heat officials and top players LeBron James, Dwyane Wade and Chris Bosh are exploring options to create enough financial flexibility to add Carmelo Anthony in free agency.

Information in the story, written by Brian Windhorst and Marc Stein, is attributed to sources close to the situation.

From the report: "The mere concept would require the star trio of LeBron James, Dwyane Wade and Chris Bosh to all opt out of their current contracts by the end of the month and likely take further salary reductions in new deals that start next season to give Miami the ability to offer Anthony a representative first-year salary."

Free agents can begin negotiations with prospective teams on July 1 and can begin signing on July 10.

Anthony holds a $23.7 million player option for next season and he has until June 23 to notify the Knicks if he intends to use it.