Portland Trail Blazers guard Norman Powell told Yahoo Sports he will decline his player option for the 2021-22 season and become an unrestricted free agent Aug. 1.

The player option is worth $11.6 million and he is expected to receive a considerable raise and a multiyear deal this summer.

Source: Chris Haynes of Yahoo Sports

ANALYSIS: Chris Haynes added that Norman Powell, 28, will have multiple suitors and the Trail Blazers will make re-signing the high-flying guard a top priority, sources said. Powell was acquired during a midseason trade last year in return for Portland's Gary Trent Jr. and Rodney Hood. Powell is coming off a career-best season, averaging 18.6 points per game while shooting 41.1% from behind the arc.