Report: Grizzlies decline 2016-17 option on Lance Stephenson

The Memphis Grizzlies have declined their $9.4-million team option on Lance Stephenson for the 2016-17 season, making the shooting guard an unrestricted free agent, according to multiple reports.

The Grizzlies have point guard Mike Conley's free agency hanging over their heads, and renouncing Stephenson will allow them to open up the cap space for two maximum salaries this summer. They reportedly have some interest in bringing Stephenson back at a lower annual figure, but given the rising cap, it's possible he'll get a better offer elsewhere.

The Grizzlies were Stephenson's third team in two seasons, after signing a free-agent deal with the Charlotte Hornets in the summer of 2014. After flopping in Charlotte, and his subsequent stop in Los Angeles with the Clippers, he actually thrived in Memphis, averaging 14.2 points, 4.4 rebounds, and 2.8 assists (19.2, six, and 3.8 per 36 minutes) across 26 games.

Stephenson is streaky, volatile, and far too enamored with his own dribble, but he's also only 25, an active wing defender, and just two years removed from being a crucial contributor to a 56-win conference finalist in Indiana. If the Grizzlies can't lure him back, he should have his share of suitors.