10:29am: Young has indeed opted out, King confirmed today to reporters, including Andy Vasquez of The Record (Twitter link), saying that he has his sights set on re-signing him. King added that the team has extended a qualifying offer to Mirza Teletovic, as the GM said the Nets would.
10:10am: Thaddeus Young has opted out from the Nets, a league source tells Chris Haynes of Cleveland.com (Twitter link). Haynes indicates that the move has already taken place, and while the Nets have made no official announcement, there won’t necessarily be formal acknowledgement, since players don’t have to declare when they’re turning down player options; they only have to say when they’re opting in. Young was in line to make nearly $10.222MM had he picked up the option.
The news is no shock, since Young was reportedly leaning toward opting out as of late last month, though that came a few weeks after Young said agent Jim Tanner had suggested that he instead opt in and hit free agency next summer, when the salary cap is projected to surge. Young also said in early May that he wanted to see what Brook Lopez would do with his player option, so perhaps today’s news is an indication that Lopez has made up his mind, too. Nets GM Billy King has made it clear that it’s a priority for the club to retain both Young and Lopez regardless of whether they opt out. That’s in spite of the looming luxury tax threshold that would make it difficult for the Nets, who have nearly $59MM in guaranteed salary already on the books for next season, to keep both without passing the projected $81.6MM tax line. The Nets would pay repeat-offender tax penalties if they’re again in the tax at the end of next season. King has indicated a willingness to trade every player on the roster, including the bloated contracts of Deron Williams and Joe Johnson.
The 29-year-old Young averaged 14.1 points and 5.4 rebounds in 32.0 minutes per game this season, his first away from the Sixers, and his numbers during the second half of the season in Brooklyn were similar to those that he put up before a midseason trade that sent him away from Minnesota.