Milwaukee Bucks guard Monta Ellis, who owns an opt-out clause for the final year of his contract, turned down the team's offer of a two-year extension that would have resulted in a package of three years and $36 million, according to The Milwaukee Journal Sentinel's Charles F. Gardner.
The deal would have required the 27-year-old to opt in to the final year of his current deal, which is worth $11 million, before paying Ellis $11.8 million in the second year and $13 million in the third.
Ellis' last contract with the Golden State Warriors, signed in 2008, was worth $66 million over six years.
From the report:
But the contract has a player option for the 2013-'14 season, and he can choose to end the deal. If he does, Ellis will be a free agent July 1.
Ellis and his agent, Jeffrey Fried, face a June 20 deadline to make their decision.
Ellis would have received some protection against injury with a three-year deal while also having the chance to be a free agent at age 30. But he may be interested in testing the market now.
Yahoo! Sports recently reported that Ellis plans to opt out of his contract and could be interested in the Sacramento Kings, who hired former Golden State assistant Mike Malone as their coach after an ownership change. Ellis worked under Malone's tutelage while playing for the Warriors.