Vertical Sources: Memphis has declined Lance Stephenson's $9.4M team option. He'll be free agent. Interest for return, interest elsewhere.
— Shams Charania (@ShamsCharania) June 27, 2016
Memphis had until Wednesday to make a decision. Lance/DWest/Roy now all free agents. https://t.co/UyFERsYt2Z
— Scott Agness (@ScottAgness) June 27, 2016