Paul Millsap has informed the Atlanta Hawks that he won't exercise his player option for 2017-18 and will become a free agent this summer, according to multiple reports.

The Vertical was first to report Millsap's decision Monday. Millsap's option year was worth $21.47 million.

Millsap, 32, told reporters last month that he would "probably" decline the option but added that he wanted to remain with Atlanta. The Hawks also have publicly stated that they intend to re-sign Millsap, who has spent his past four seasons with the team.

A four-time All-Star, Millsap is eligible to receive a lucrative new contract from the Hawks, who can sign the veteran forward to a maximum five-year deal worth over $200 million.

If he signs anywhere besides Atlanta, Millsap's maximum contract would be for four years.

The 6-foot-8 Millsap was Atlanta's leading scorer this past season, averaging a career-high 18.1 points and 7.7 rebounds per game.