Report: Valanciunas plans to opt out, negotiate new deal with Grizzlies
Joe Murphy / National Basketball Association / Getty

Memphis Grizzlies center Jonas Valanciunas will not exercise his $17.6-million player option for next season, but intends to negotiate a new deal with the team, sources told ESPN's Adrian Wojnarowski.

Last week, the 27-year-old big man told reporters that the Grizzlies' coaching hire would be a "huge" factor in his decision. Memphis had been linked to Valanciunas' Lithuanian compatriot Sarunas Jasikevicius, but the Grizzlies ultimately hired former Milwaukee Bucks assistant Taylor Jenkins on Tuesday.

After coming over from the Toronto Raptors as a key component in the Marc Gasol trade, Valanciunas excelled with Memphis, averaging 27.7 minutes, 19.9. points, 10.7 rebounds, 2.2 assists, and 1.6 blocks over 19 appearances.

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Report: Valanciunas plans to opt out, negotiate new deal with Grizzlies
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