Pacers' Miles reportedly opting out of contract
C.J. Miles will opt out of his contract with the Indiana Pacers and become an unrestricted free agent, according to a report from ESPN.
Miles, 30, is a 6-foot-6 swingman. He averaged 10.7 points and shot 41 percent on 3-pointers, primarily coming off the Pacers' bench.
Miles, 30, is forgoing a salary of approximately $4.8 million in hopes of securing an extended, lucrative deal this offseason.
It's a decision the Pacers' brass anticipated. June 20 is the deadline for Miles to notify the team of his player option plans.
Miles is likely to have a number of suitors this season, with a number of teams looking for perimeter threats to stretch opposing defenses. Whether or not anyone is willing to pay him more than $5 million, though, remains up for debate.
Or as Hoops Rumors put it: "He should do fairly well in free agency, earning a raise and a multiyear commitment, but teams around the league simply won’t have the same kind of cap room available to overspend on free agents this time around." (Full report.)