Hornets guard Jeremy Lin declined the $2.2 million team option to return to Charlotte next season and will become a free agent on July 1.
Lin averaged 11.7 points, 3.0 assists and 3.2 rebounds for the Hornets last season. The 28-year-old signed a two-year, $4.3 million deal with Charlotte last summer. Lin previously signed a three-year, $25 million deal with the Houston Rockets as a restricted free agent with the New York Knicks.
Lin said at the end of the season that he would be "very interested" in returning to the Hornets but will seek a long-term deal and explore the open market.
Center Al Jefferson and small forward Nicolas Batum are free agents for the Hornets, as are power forwards Marvin Williams and Tyler Hansbrough. Jefferson played only 47 games last season after one of his best seasons in the league at age 30 in 2014-15.