As expected, Deron Williams has officially decided not to pick up his player option for the 2012/13 season, according to Stefan Bondy of the New York Daily News (via Twitter). The decision means that Williams will hit unrestricted free agency this weekend, and will be eligible for a maximum salary of about $17.18MM, rather than the $17.78MM his option was worth, as I outlined here.
Here are a few more updates on this summer's top free agent: