Anthony Davis will opt out of his $28.7 million player option and re-sign with the Los Angeles Lakers, sources tell Shams Charania of The Athletic.

Davis and Rich Paul will hold meetings in the coming weeks to determine which contract path makes the most sense for him.

Davis could sign a one-plus-one contract worth $68.1 million to become a free agent again in 2021.

Davis could also sign a two-plus-one to become a free agent in 2022 when he would then be eligible for a contract worth 35 percent of the max. With a $125 million cap projection for 2022, Davis could sign a five-year, $253.75 million deal.