According to Chris Broussard of ESPN, Monta Ellis turned down the one-year, $11 million player option remaining on his contract.
Sources: Monte Ellis has told Bucks he is opting out of the 1-year, $11 million left on his contract. Will become coveted free agent
— Chris Broussard (@Chris_Broussard) June 17, 2013
Ellis previously turned down an extension that would have paid him $11.8 million for 2014-15 and $13 million for 2015-16 in addition to the year he already had in place as a player option. He will now be an unrestricted free agent.
There were reports a few weeks ago that Ellis would like to play for Mike Malone, who recently became the head coach of the Sacramento Kings.