ESPN’s Shams Charania reports that James Harden is declining his player option for next season and negotiating a new multiyear deal with the Cavaliers.
Harden, who helped the Cavaliers reach the Eastern Conference Finals last season, would have earned a base salary of $42.3 million had he opted into the final season of his contract. However, the decision to opt out and negotiate a new deal with the Cavaliers is likely to benefit both parties. While Harden would get additional security in the form of more years, Cleveland may be able to give him a lower annual salary. With the team hopeful to retain pending free agent Dean Wade while also lowering its payroll, every little bit helps.