Philadelphia 76ers guard Lou Williams will opt out of the final year of his contract, his agent Leon Rose confirmed Saturday.
Williams, the team's leading scorer during the regular season, will become an unrestricted free agent July 1.
The 25-year-old was due $6.39 million next season but his decision does not guarantee he will not return with the team next season, The Philadelphia Inquirer reported.
The 76ers would have only been able to extend Williams' existing contract for three more seasons under the terms of the new collective bargaining agreement.
Now the team can offer him five years, while others can only offer four.
"I know Lou loves the fans, the city, the organization, his teammates and has the utmost respect for coach [Doug] Collins and his staff," Rose said.
"Based on what Lou has done in terms of production on the court, leadership and accepting his role off the bench for the betterment of the team, I also believe the Sixers will step up to keep him."