Mo Williams will decline the player option on the second and final season of his contract for 2014-15.
Williams served as an integral part of the Portland Trail Blazers' rotation this season, averaging 9.7 points and 4.3 assists.
"It ended up being a really great situation for me," Williams said of playing for the Blazers. "And hopefully it works out. Hopefully the brasses up top come together and I'm here for a long time."
Williams said he is searching for a multi-year contract.