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The Grizzlies have declined Kennard's (knee) $14.8 million team option Saturday, but both sides are eager to strike a new deal in free agency, Adrian Wojnarowski of ESPN reports.

Kennard put up a decent year, during which he averaged 11.0 points, 3.5 assists and 2.9 rebounds across 25.6 minutes in 39 regular-season games. The sharpshooter did what he does best in shooting 45.0 percent from three-point range in limited time due to injury. The Grizzlies will look to bring Kennard back and avoid the injury bug that plagued their club in the 2023-24 season.

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