A person with knowledge of the situation tells The Associated Press that Pau Gasol will not exercise the player option on his contract for next year, but intends to sign a new deal with the San Antonio Spurs when free agency opens in July.
Gasol declined the $16 million option on his contract on Tuesday. The 7-foot center made the move with the expectation of signing a new multiyear deal that will reduce his annual salary but give him more security, according to the person who spoke on condition of anonymity because the Spurs did not officially announce the move.