Lance Stephenson's Contract Option Declined by Grizzlies

The Memphis Grizzlies roster was decimated last season, but one notable bright spot among those who stepped up was swingman Lance Stephenson after he arrived in a February trade from the Los Angeles Clippers.  

Memphis chose to exclude Stephenson from its plans for the 2016-17 season—at least on what his salary would have been—reportedly declining his club option and the final year of his contract on Monday.

Shams Charania of The Vertical first reported the news, with Ronald Tillery of the Commercial Appeal confirming the report.

The 25-year-old helped the Grizzlies hang tough and still qualify for the playoffs, as many of their core players suffered injuries down the stretch. His option would've had Memphis on the hook for $9.4 million in salary for the upcoming season, per Spotrac.

Stephenson had an underwhelming stint with the Charlotte Hornets during the 2014-15 campaign and played sparingly in the Clippers rotation before receiving a new lease on life as a big contributor for the Grizzlies. He embraced the opportunity and averaged 14.2 points in 26 games for Memphis.

The team could still bring back Stephenson in free agency, but with the increase in the NBA's salary cap, he's bound to have some leverage. The Grizzlies could bring him back on a generous offer and still have room to add at least one star on the open market.

Capable of playing the 2 or the 3 position, Stephenson would be a versatile piece of the Grizzlies' puzzle as they adjust to a new head coach in David Fizdale following the dismissal of Dave Joerger.

Stephenson could be a prime candidate for the mid-level exception—be it with Memphis or another squad.

Depth at both positions on the wing is a point of concern for the Grizzlies, so letting Stephenson go after his 2015-16 success with the team, albeit on an abbreviated sample size, is a bold move.

Memphis' personnel in that area is limited to 34-year-old Tony Allen, a 39-year-old Vince Carter and an unproven Jordan Adams, with Matt Barnes and P.J. Hairston becoming free agents. Regardless of what happened with Stephenson, the Grizzlies needed to upgrade that area in particular as it was.

A more pressing priority moving forward for the Grizzlies will be retaining point guard Mike Conley. The prime of his career is still ahead, and it's the only perimeter position Memphis can have considerable confidence in looking to the future—provided Conley stays.