Chris Paul will decline his $44.2 million player option for the 21-22 season to become an unrestricted free agent, sources tell Shams Charania of The Athletic. 

Adrian Wojnarowksi later reported that there is optimism that Paul and the Phoenix Suns will reach agreement on a new contract once free agency opens up on Monday evening. There were reports on Saturday indicating Paul was likely to re-sign with the Suns on a deal worth more than $90 million over three years. 

Paul was an All-NBA Second Team selection in his first season with the Suns while also leading the team to The Finals.

Paul signed a four-year, $160 million deal with the Houston Rockets during the 2018 offseason that they salary dumped a year later for Russell Westbrook.