NBA player Metta World Peace has decided not to opt out of the final year of his contract with the L.A. Lakers, according to his agent, Marc Cornstein. The athlete formally known as Ron Artest had until Tuesday to opt out of the deal, and he publicly spoke about doing so in order to get a new multiyear deal from the team.
Instead, World Peace will receive the $7.7 million owed to him next season in the final season of the five-year deal signed with the Lakers in 2009. Now it’s up to the Lakers to decide whether they want to keep the veteran center on the team for 2013-14, or waive him using the one-time amnesty provision. Teams must inform the league of their plans to amnesty a player during a window from July 10-16, and the provision can be used only on a player who was signed before the new collective bargaining agreement was put in place in December 2011.