Report: Mo Williams to pick up 2016-17 player option

Cleveland Cavaliers point guard Mo Williams has elected to pick up his player option for the 2016-17 season, league sources told Cleveland.com's Chris Haynes.

The 33-year-old veteran signed a two-year, $4.3-million contract with the franchise last season, with a player option in his second year worth roughly $2.1 million.

He will become an unrestricted free agent during the summer of 2017 as the league's salary cap continues to ascend.

The Cavaliers are reportedly aware of Williams' intentions. The deadline to opt out or stay put is June 16.

In 41 appearances during the regular season, Williams averaged 8.2 points on 43.7 percent shooting, 2.4 assists, and 1.8 rebounds in 18.2 minutes off the bench. He started the first 11 games for the Cavaliers as Kyrie Irving continued his recovery from a broken kneecap he suffered in the 2015 NBA Finals.

Williams currently serves as the third-string point guard behind both Irving and Matthew Dellavedova. He's scored 14 points and racked up four steals in 58 minutes during Cleveland's ongoing postseason run.