Absolutley. Now how solid the information that he will or won't go is the question.
LeBron has a player option in 2010-11. Other than that the Cavs have no contracts of consequence (a rookie or 2) signed in 2010/11. They are poised to make massive changes around LeBron. Lebron can go wherever he wants (as long as they can pay). He doesn't have a no trade clause but he's got about the same thing because all he has to do is say if you trade me to XYZ team I promise I will not resign with them and leave them with nothing and teams will be reluctiant to give up a lot of good players and picks for him only to lose him.
If he truly wants the big stage in NY he's gonna go. Unles there is a miricale in Cavs land and they pull off some rediculous trade like Ben Wallace ofr Mike Redd to surround him with a title contending core I don't think he hangs around Clevaland. He probaly figures he can at the very least for a sign and trade to NY to get his max $. After all the Cavs can't lose him for nothing. Even if he has to take less $s in NY his endorsments are so huge that it won't make any difference. heck the boost to his endorsments may well offset the salary.
I'd say if it truly looks bad then trade him for the best package you can get before you end up settling for whatever crap NY gives in a S and T.