Mavericks' Dirk Nowitzki: Opts out of contract for 2016-17

Nowitzki formally declined his $8.69 million contract option for the 2016-17 season on Tuesday and will become an unrestricted free agent, Marc Stein of ESPN.com reports.

Analysis:

With the salary cap set to rise this summer, it was expected all along that Nowitzki would opt out of his current deal and re-sign with the Mavericks on a multi-year pact at a higher annual average salary, but that plan might not be quite as iron clad any longer. After losing to the Cavaliers in the NBA Finals, the Warriors are said to be interested in bringing aboard Nowitzki if they're unable to sign the top prize on this summer's free agent market, Kevin Durant. It still seems more likely than not that Nowitzki will be back in a Mavericks uniform when it's all said and done, but he'll likely wait and see how the market plays out before inking a new deal.