J.R. Smith will not pick up his player option with the New York Knicks for the 13-14 NBA season at $2.9 million in order to become a free agent.

The Knicks can re-sign Smith using the Early Bird Exception starting at approximately $5 million annually for at least two years.

Smith could leave the Knicks if another team offers more money, but he is close with Mike Woodson. Smith and Woodson recently golfed together.

Smith was the NBA's Sixth Man of the Year after averaging 18.1 points and 5.3 rebounds per game last season.