Report: DeRozan to decline $27.7M option if Spurs don't agree to extension

DeMar DeRozan is preparing to hit the open market.

The 30-year-old will turn down his $27.7-million player option for the 2020-21 season if he and the San Antonio Spurs cannot agree to an extension by late June, Yahoo Sports' Chris Haynes reports.

Though the move would permit DeRozan to field offers from any team in the NBA, it also wouldn't definitively rule him out from a return to San Antonio next season, sources told Haynes.

The New York Knicks are expected to have interest in DeRozan if he becomes an unrestricted free agent, Haynes notes.

After nine seasons with the Toronto Raptors to begin his NBA career, DeRozan was shipped to the Spurs alongside big man Jakob Poeltl as part of the deal that sent Kawhi Leonard and Danny Green north of the border.

Now in his second campaign in San Antonio, DeRozan is averaging 22.2 points, 5.6 rebounds, and 5.6 assists on 34.3 minutes per game. The four-time All-Star is shooting 26.7% from deep this season after shooting just 15.6% from 3-point range last season with the Spurs.