Thaddeus Young to opt out of the final year of his contract

No real surprise here. Thaddeus Young will opt out of the final year of his contract and become an unrestricted free agent.

Chris Haynes of Cleveland.com first reported the news...before Billy King confirmed it.

Nets F Thaddeus Young has opted out and will become an unrestricted free agent, a league source tells @Clevelanddotcom.

— Chris Haynes (@ChrisBHaynes) June 22, 2015

King seemed optimistic that Young will remain a Net, as he told the Brooklyn beat writers at this morning's final multi-player draft workout.

"I’m pretty confident, because we have some tools in our favor," King, no doubt referring to Young’s Bird Rights, permitting the Nets to pay Young more than any other team. "It’s nothing that we weren’t expecting. So come July 1st we’ll start that process of trying to retain him to the Nets."

Asked if he intended to offer his other big target, Brook Lopez, a max contract, King responded, "next question."

"He’s been around, he’s been working out. That’s always a plus," King said of Lopez, who must inform the Nets of his plans by next Monday.. "He’s been here in the gym, so it’s always good when guys are here working out — if they’re going to be free agents or not, you like to have them in your gym. If they’re not around then you could get a little more nervous."

King also said that the Nets have extended a qualifying offer to Mirza Teletovic, which means he’ll be a restricted free agent. If Teletovic accepted the qualifying offer, at $4.2 million, he would be under contract for a year, during which time the Nets couldn't trade him without his permission.

King even suggested that the Nets core of Lopez, Young, Joe Johnson and Deron Williams could return intact in October.

King said there is a possibility #Nets could go into next season with Lopez, Young, Johnson and Williams all on roster.

— Mike Mazzeo (@MazzESPN) June 22, 2015

Those four players alone would put #Nets at or close to the projected $81.6 million tax line for 2015-16.

— Mike Mazzeo (@MazzESPN) June 22, 2015

The Nets would likely have to pay the repeater tax next season if that happens, BUT they have until the end of the regular season (in effect the trade deadline) to get under the luxury tax threshold. Luxury taxes are calculated based on the payroll the last day of the regular season.

Young had a player option for just under $10 million, and is opting out to cash-in and sign a long-term deal. This, of course, doesn't mean he can't or won't re-sign with the Nets, just that if and when he does it will be for a long-term deal and not just for the 2015-16 season.

Nets GM Billy King has already indicated that the team is looking to build around Young, 26, and big man Brook Lopez, who can also opt out of his $16.7 million player option for 2015-16. Again, the Nets are expected to make a long-term offer to Lopez as well, if and when he decides to opt out.

• Thaddeus Young to opt out - Andy Vasquez - The Record
• Nets forward Thaddeus Young opts out of contract - Stefan Bondy - New York Daily News
• Thaddeus Young just threw a major wrench into Nets’ summer - Tim Bontemps - New York Post
  
• Thaddeus Young will opt out of final year of contract with Brooklyn Nets - Mike Mazzeo - ESPN New York
• Thaddeus Young to opt out, become a free agent - Devin Kharpertian - The Brooklyn Game
• Young opts out of final year of deal with Nets - AP
  
• Nets GM Billy King confident Brook Lopez, Thaddeus Yound will return - Rod Boone - Newsday
  
• Nets still searching for road out of land of mediocrity - Tony Williams - Metro
• Nets GM Billy King Readies for Tough Summer - Alex Raskin - Wall Street Journal
• Brooklyn Nets' Future Riding on Thaddeus Young-Brook Lopez Combination - Fred Katz - Bleacher Report