Allen, who spent the 2014-15 season away from the league, has stayed in shape and would return to the game if the right situation arises, Ananth Pandian of CBS Sports reports.

The 40-year-old is not labeling himself as "retired" and would be open to compete for another championship. "I haven't said anything about that and I won't officially retire. Because if something came to the table, contractually and situational-ly, I want to be able to take a strong look at it. I don't want to be that guy that says he's retiring and then is coming back," Allen said Saturday at his basketball camp. He also revealed that the only time he got the itch to be on the court last season was during the Finals as he watched the Cavaliers and Warriors battle it out. It's likely that a few NBA teams will reach out to Allen in hopes of adding the veteran's three-point shooting to their roster.

Allen announced Wednesday that he will not play this season, ESPN's Brian Windhorst reports.

Allen was reported to be highly coveted by most contending teams, but after waiting it out through the All-Star break, the veteran has decided not to play this season. He did, however, leave the door open to the possibility of returning next season, though that seems rather unlikely.

Allen has yet to decide if he will return for the 2014-15 season, and has not signed a deal with the Cavaliers, Yahoo! Sports' Marc J. Spears reports.

There has been buzz ever since LeBron James went to Cleveland that Allen would follow him there, and a month ago there were even reports that he would definitely play another season, but this statement coming from Allen's agent refutes that anything has been decided. Even if Allen does eventually sign with Cleveland, there are too many mouths to feed for him to be a solid option in fantasy.

Allen will return for his 19th season, ESPN.com reports. He is leaning toward signing with Cleveland, but it is not a done deal.

Allen stated after the season that he would like to continue to play with LeBron James, so he may follow James from Miami to Cleveland (like James Jones and Mike Miller - with a stop in between). He averaged just 9.8 points in 2013-14 and likely won't be much more than a 3-point shooting streamer in fantasy leagues.

Ray Allen has not decided on if he's going to play next season.

Obviously that means he hasn't decided on joining up with LeBron James and the Cavs. The Boston Globe reported that Allen is leaning to the Cavs, which is still the most-likely outcome. He'll be coming off the bench on just about any team and he probably won't get more than 10 shots per game.

Ray Allen is leaning to signing with the Cavs, according to the Boston Globe.

He is expected to have MRIs on his legs to make sure they're healthy, so nothing will be official until after Thursday. Allen will be entering his 19th season and looked as healthy as ever with the Heat in 2013-14. He'll likely see minutes around 20 per game with the Cavs.

Ray Allen is expected to get MRIs on his legs before making a decision on his retirement.

He didn't look like a guy who was drafted in 1996 last season and it would be a surprise to see him retire at this point. Allen is getting some interest from the Cavs, Rockets and Heat as a bench scorer. He will be back in the USA on Thursday after a trip to China.

Mike Miller has been recruiting Ray Allen to join him and LeBron James in Cleveland.

"With LeBron James, you are going to win 55 to 60 games regardless," Miller said. "Now it's about what you do in the playoffs. For us, even with the young talent that they have there, you've got to bring guys that have been there before, even if they are not giving you heavy minutes. Because those are the guys that understand the preparation, the adjustments, things like that can really bring those guys along. And then you build it from there." Allen is contemplating retirement, but the ageless veteran could still contribute to an NBA team with his clutch shot making and picture perfect jumper. Stay tuned.

Unrestricted free agent Ray Allen is talking with the Cavaliers and Rockets while continuing to contemplate retirement.

Allen is still undecided whether he wants to return for another NBA season, or retire after 18 years in the NBA. He has reportedly been in talks with both the Rockets and Cavaliers, but is yet to speak with his former team. "We knew that he wanted to take some time and be patient to see where he is," Heat coach Erik Spoelstra said. "We'll see what happens." Whether he chooses to play next season or retire, Allen will go down as the greatest three-point shooter in the history of the NBA.

Unrestricted free agent Ray Allen is reportedly contemplating retirement.

Allen is in no rush to select his next team, as he's not sure whether he wants to play, or call it quits on his career. Allen is the NBA's all-time leader in 3-point makes with 2973, and over 19-years of professional play Allen has shot 40.0 percent from beyond the arc. Needless to say, if Mr. Allen chooses to retire, the NBA will be losing one of the best shooters to ever play the game.

The Cavaliers are reportedly pursuing free agent Ray Allen.

This is a transparent move to lure LeBron James back to Cleveland, as Allen has said that he'd like to continue his career alongside LBJ. It's doubtful Allen will make any decisions before LeBron, but Cleveland has nothing to lose by expressing interest in Allen (and leaking it to the media). If the Cavs fail to land LeBron, they're expected to pursue Trevor Ariza and other free agents with their copious salary-cap space.

Ray Allen is "leaning toward" returning for his 19th NBA season, and he reportedly wishes to continue playing alongside LeBron James.

Tethering yourself to LeBron is a great way to ensure you'll play for a championship contender, and Allen even went on vacation with LBJ last week following their Finals defeat. Allen will be 39 years old when the 2014-15 season begins, but he's proven over the past two season that he can still be a key contributor on a winning team.

Pat Riley said on Thursday that Ray Allen didn't give him any indication about whether or not he is retiring.

"We probably asked a little bit too much of him," Riley said. Allen was in fantastic shape all season and he looks like he could play for a few more seasons despite how he would be entering his age-39 season next year. He missed just 12 games in the last two seasons with the Heat.

Ra Allen said he will see where his "true heart lies" in the next couple days regarding his retirement.

He made it abundantly clear that he's still playing at the NBA level and even drew the start in Game 5 on Sunday. Allen shot 38.8 percent during the postseason in his 26.4 minutes per game and gave plenty of Eastern Conference teams a headache on the playoff run. The fifth pick from the heralded 1996 draft is more than likely coming back next season.

Ray Allen replaced Mario Chalmers in the starting lineup on Sunday, but he finished Miami's Game 5 defeat with only five points on 1-of-8 shooting in 31 minutes.

Heat coach Erik Spoelstra had to make some adjustments with the season on the line and he opted for Allen's superior offensive game and veteran poise. The move paid off initially with Miami going on a 22-6 run to start the game, but without Allen on the bench their lack of second-unit production was glaringly obvious -- Michael Beasley led all Heat reserves with nine points. Allen will be an unrestricted FA this summer, adding to the uncertainty surrounding Miami's roster next season.

Ray Allen will replace Mario Chalmers in Miami's starting lineup during Sunday's potential elimination game in San Antonio.

Chalmers' terrible play is at the root of coach Erik Spoeltra's decision, but Allen has copious experience in pressure games and he's averaging a respectable 11.0 points on 48.5 percent shooting in the series. He's a capable ball-handler and the Spurs need no reminder about his 3-point prowess, but Allen's offensive contributions won't mean much if Miami doesn't find a way to lock down defensively.

Ray Allen said retirement is a possibility on Thursday.

"I guess everything [is factored into the decision]," he said. "You get away from it, you sit down and get an opportunity to think about it. It depends on how my body feels. I love the condition I've been in over the last couple of years. It's just a natural progression." This isn't really a big deal and Allen continues to show he's in terrific shape. He'll likely be back next year.

Ray Allen started the second half of Thursday's loss to the Spurs, finishing with eight points, two boards, one turnover and two 3-pointers.

He started in place of Rashard Lewis and coach Erik Spoelstra seems like he has to come up with something new for his starting lineup on Sunday for Game 5. Perhaps Udonis Haslem gets a start or it may be Allen. Ray needs just two more 3-pointers to tie Robert Horry for the most 3-pointers in NBA Finals history.

Ray Allen started the second half for Rashard Lewis in Game 4 on Thursday.

The Spurs absolutely dominated the Heat yet again in the first half and coach Erik Spoelstra had to make a move. Gregg Popovich's team has been doing almost whatever they want on offense these days.

Ray Allen said on Wednesday that he loves how his body feels right now.

He threw down a dunk in transition in Game 1 and looks to be as in great of shape as he was back when he was drafted in 1996. Allen is one of the greatest and will have a chance to break Robert Horry's record for most career 3-pointers in the NBA Finals this week. It sounds like he's going to be ready to go for next season.