The Miami Heat have declined their option to extend Michael Beasley's contract for another year.
Beasley, who was drafted by the Heat with the third pick in the 2008 NBA Draft, returned to the team for a third spell last season, but reports on Sunday suggested that he would not be a part of their future plans.
It has now been confirmed that Miami rejected the chance to keep the 26-year-old for another season and he will now look for a new team in free agency.
Beasley previously spent time in China between spells with the Heat, and it remains unclear whether he will attract interest from NBA teams after averaging 8.8 points in 24 games last season.
