Kobe Bryant decided not to exercise an early termination option in his contract and will return for the 2009-10 season, a league source told ESPN.com's Chad Ford.

Bryant is scheduled to make $23 million next season by not opting out. He also has a player option to opt out of his contract in the 2010-11 season.

Bryant and the Lakers will still attempt to agree upon an extension this summer, however.

Mike Krzyzewski has been linked to the Lakers head coaching job multiple times since 204 and again denied the possibility on Tuesday.

"I'm not going to the Lakers. They have one of the great coaches in the game," Krzyzewski said. "I don't know where that rumor started, but there has been nothing done like that, and I'm not leaving Duke. Whatever you hear about anything like that, I will never leave Duke until I leave coaching."

Kobe Bryant must officially notify the Lakers via fax by the end of Tuesday should he decide to terminate his contract.

The Lakers declined to comment. Bryant's agent, Rob Pelinka, did not return a phone call.

Detroit, Memphis and Oklahoma City are the only teams far enough under the salary cap to even contemplate signing Bryant to a five-year deal this summer, but they wouldn't be close enough to match Bryant's $23-million salary next season without shedding additional salaries.

Trevor Ariza's agent David Lee said Monday that the Lakers won't receive a hometown discount from his client.

Lee declined to reveal how much of a raise Ariza will seek when he becomes an unrestricted free agent, but he said his client should make him the most coveted wing player on the market.

Among the teams Lee expects to pursue Ariza are Detroit, Portland and Toronto.

"It's a question of how committed the Lakers are to competing again," Lee said. "If everyone else stood still, you could see what happens when a piece is missing, but the reality is teams out there are positioning themselves to be competitive. When other teams are getting better, you can't afford to rest on your laurels."

The Lakers and Kings appear to be the front runners to land guard Nate Robinson, a restricted free agent of the Knicks.

Sacramento was reportedly close to swinging a deal that involved Robinson and Jared Jeffries at February's trading deadline, but talks between the Kings and Knicks fell through.

It's possible that the two teams could rekindle talks this summer.

The Lakers was rumored to have inquired about Robinson after he scored 33 points at the Staples Center in December, and both Kobe Bryant and Jerry Buss gushed about the guard after the mid-December game.

Sources said that the Knicks have paid $3 million for the pick and are also giving the Lakers their second round pick in 2011 in order to acquire the 29th overall pick.

The Knicks appear to be targeting Georgetown 6-8 forward DaJuan Summers with the selection.

Other reports indicate that Jack McClinton or Josh Heytvelt could be the target.

A source has confirmed to DraftExpress that the Knicks have purchased the 29th overall pick from the Lakers.

The Knicks are expected to take a point guard with the 8th overall pick and find a big at 29.

The Lakers contacted the Rockets about dealing for Jordan Farmar or purchasing their first-round pick.

Houston turned Los Angeles down, according to a pair of NBA sources.

The Lakers would be expected to get anywhere from $500,000 to $1 million for the 29th overall pick.

"Absolutely," general manager Mitch Kupchak said when asked if the club would considering dealing the selection. "Sure."

Lakers general manager Mitch Kupchak said Wednesday that there was a "better than even likelihood" the team would get rid of its first-round pick.

The Lakers own the 29th overall pick, in addition to the 42nd and 59th.

"There's a lot of interest, absolutely," he said. "Certain teams, they may want to preserve cap space for the next year or two and they may need to add players. A good way to add talent at a fixed price is to have a lot of draft choices and then you can still maintain cap space a year from now."

The Lakers are spending their summer attempting to re-sign Lamar Odom, Trevor Ariza and Shannon Brown.

Phil Jackson said in a radio interview Tuesday that he will make a firm decision about returning to the bench next season by "early July" and that he will also explore the possibility of letting Lakers assistant coach Kurt Rambis coach more road games in his stead.

In the interview Jackson insisted that health concerns would be the only reason that prevented him from completing the final season of his current coaching contract.

The Lakers completed a test run of the concept in April when Jackson, having had both of his hips replaced in recent years, skipped a one-game trip to Portland on the second night of back-to-back games shortly after the team had finished a grueling seven-game trip. With Rambis in charge, L.A. suffered a 106-98 loss to the Blazers.

"Yeah, we've toyed around with that idea actually," Jackson told ESPN Radio hosts John Ireland and Mychal Thompson. "I guess it's not that revolutionary. We talked a little bit about it, and you know I was actually kind of given the green light to actually try this out and when the time came."