The Memphis Grizzlies have declined their option on the contract of Lance Stephenson for the 16-17 season.
Stephenson was acquired by the Grizzlies from the Los Angeles Clippers at the deadline.
Memphis decided to let Stephenson become an unrestricted free agent to maximize their cap space as they work to retain Mike Conley.
The Grizzlies have some level of interest in re-signing Stephenson as well as from other teams.
In 26 games, he averaged 14.2 points, 4.4 rebounds and 2.8 assists while shooting 47.4 percent from the field.