Pistons will not pick up team option on Chauncey Billups for 2014-15

The Detroit Pistons will part ways with veteran shooting guard Chauncey Billups for the second time according to the Detroit Free Press. The team will not pick up Billups' $2.5-million option for the upcoming season.

Pistons head coach and President of basketball operations Stan Van Gundy said in a release:

Chauncey Billups will always be a valued member of the Detroit Pistons’ family. Decisions like these are always difficult to make and we certainly wish Chauncey and his family the best in the future.

Owner Tom Gores wished Billups well in his release:

Chauncey Billups embodies what it means to be a member of the Detroit Pistons. His leadership, dedication and excellence both on and off the court provide a great example for aspiring young athletes. He will forever be a welcome member of the Pistons family, and I am confident that after his playing days are over he will have a long and bright future in this league.

Billups, 37, left the door open to future possibilities: "I feel like I've still got some good years of basketball left."