Report: Deron Williams opting out of Mavericks contract

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Deron Williams sacrificed $16 million to leave the Nets in a buyout last summer. He recouped $5,378,974 with the Mavericks this season.

Now – instead of exercising his $5,621,026 player option – he’s looking to get more.

Tim MacMahon of ESPN:

Deron Williams intends to opt out of the second season of his contract with the Mavericks, sources told ESPN.com.

Williams could return to the Mavericks. They’re one of the few teams that need a starting point guard, and two others that do – the Nets and Knicks – are probably off the table given Williams’ antipathy for a large market. Expect Dallas to at least try for an upgrade like Mike Conley first.

But even if Williams signs as a backup, he can still probably command more than $6 million next season. With the salary cap skyrocketing to about $92 million and so many teams flush with cap space, the salary picture is changing.

This also increases the Mavericks’ potential cap space.

They project to fall about $24 million under the cap, counting cap holds for Williams, Chandler Parsons (who has a player option that could go either way) and Dwight Powell. In other words, Dallas could spend that $24 million then exceed the cap to re-sign Williams, Parsons and/or Powell.

Renouncing Williams ($6,454,769 cap hold), Parsons ($19,969,950 cap hold only if he opts out) and/or Powell ($1,180,431) could clear additional cap room. Parsons opting in would restrict the Mavericks’ ability to clear space .

Williams would have been a bargain if he opted in. Instead, Dallas gains flexibility.