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Wayne Ellington opts out, increasing Brooklyn Nets cap space

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William Hauser-USA TODAY Sports

Eric Pincus of Basketball Insiders reports that Wayne Ellington has officially opted out of his player option for 2016-17.

Larkin's intentions have been well known for two weeks, but Ellington's plans were unknown. On Draft Night, Sean Marks said he did not know which way the 6'6" shooting guard was leaning.

With Ellington opting out and the Nets waiving Jarrett Jack Thursday, the Nets get closer to having more than $50 million in cap space. The Nets are also reportedly stretching the $500,000 guarantee they owe Jack, apparently to give them maximum cap space.

Larkin, Ellington, Thomas Robinson and Andrea Bargnani were all signed to 1+1 deals by Billy King last July.  Bargnani was waived near the end of the season and the three others have now opted out.  There's no indication the Nets intend to re-sign them.

Ellington, who won the J. Walter Kennedy Citizenship Award this year, had one of his worst seasons in his NBA career with the Nets, averaging 7.7 points and shooting 35.8 percent from deep.