The Indiana Pacers declined Lance Stephenson's $4.3 million team option, according to Yahoo's Shams Charania. Stephenson will become an unrestricted free agent.
The 27-year-old who averaged 9.2 points and 5.2 rebounds in 22.6 minutes per game last year.
Pacers president of basketball operations Kevin Pritchard issued the following statement: "This was a very difficult decision, but as free agency begins on July 1, we want to have flexibility so that we can prepare for all of our available options."
Former Pacer and looming free agent Paul George posted on Instagram, "Wow and I was the bad guy huh?! In this business you do what’s right for YOU! #PacerLegend"
Indiana can now clear up to $39 million in cap space. The team won 48 games last season behind the emergence of Victor Oladipo.