News came out on Monday that the Memphis Grizzlies opted to decline their team option for Lance Stephenson's $9.4 million salary next season. This move gives Memphis a massive amount of cap room which they could potentially use to re-sign Mike Conley and add another key free agent. Whether the Grizzlies find a suitable target for that room or not, they could attempt to re-sign Lance for a lower amount than his $9.4 million option would have given him.
Lance, of course, was highly successful for the Indiana Pacers before leaving in free agency for the Charlotte Hornets, where he flopped and was traded to the Clippers after one season for a return package of Matt Barnes and Spencer Hawes.