Ramon Sessions will opt out of his contract with the Lakers and will hit unrestricted free agency this offseason, according to Mike Bresnahan of the Los Angeles Times (via Twitter). Sessions had one year remaining on his four-year deal, a player option worth about $4.55MM, but will be seeking a new contract this summer rather than picking up the option.
Sessions, 26, was traded to Los Angeles by the Cavaliers in a March deadline deal that sent a first-round pick to Cleveland. Although he played well in the regular season for the Lakers, averaging 12.7 points, 6.2 assists, and 17.3 PER in 23 games in L.A., he struggled in the playoffs, with his numbers slipping to 9.7 PPG, 3.6 APG, and 8.3 PER.
Given Sessions' postseason play, the Lakers' financial restrictions, and a strong crop of free agent point guards, there's no guarantee the point guard will sign a new multiyear deal with the team, though he said last month he'd like to stay in L.A. The Lakers will have Sessions' Bird rights, so they could re-sign him without using any of their mid-level exception. If they don't bring back Sessions, the Lakers will likely target a point guard on the trade market, or using their $3MM taxpayer MLE.
Sessions, meanwhile, figures to draw a decent amount of interest on the open market. The Mavericks, Heat, Hawks, and Magic are among the many playoff teams who could be seeking a point guard this summer.