3:03pm: Green has indeed opted in, the team announced via press release.
12:01pm: Jeff Green is picking up his player option worth $9.2MM to stay with the Grizzlies for next season, reports Adrian Wojnarowski of Yahoo! Sports (Twitter link). The move is a key decision for Memphis, as it would lift the team to about $47MM in guaranteed salary commitments for next season, likely closing off any possibility for the team to open cap space if it re-signs Marc Gasol.
The working assumption in Memphis had been that Green would opt in, though the presence of skilled agent David Falk made that less than a foregone conclusion, as Marc Stein of ESPN.com wrote a month ago. Green came to the Grizzlies from Boston in a mid-January trade, though he didn’t have a game-changing impact and at one point during the regular season brought up the idea of moving to the Memphis bench. He nonetheless appeared as a starter for all but eight of his 45 regular season games in a Grizzlies uniform, but coach Dave Joerger used him chiefly off the bench in the playoffs.
The Celtics apparently traded Green in part because they were worried that he would opt out. It’s unclear whether he would have been more likely to opt out if he had stayed with the Celtics, though staying in Memphis does give him a better shot at winning than staying in Boston likely would have. In any case, Green will have another decision to make next summer when his contract expires.
Assuming Green officially opts in, the Grizzlies will likely have only the $5.434MM mid-level exception to use to sign free agents for more than the minimum salary if Gasol returns, since they used their biannual exception on Beno Udrih last year. I looked at that and other issues when I examined the offseason ahead for Memphis.