Trae Young plans to decline his $48.97 million player option for the 2026-27 season with the Washington Wizards and enter free agency Monday, sources told Andscape's Marc Spears Wednesday.

Washington remains the front-runner to retain the four-time All-Star, though multiple teams are expected to pursue him, sources said.

Young, who has averaged 9.8 assists over his eight-year career, was acquired by the Wizards from the Atlanta Hawks in January. The Wizards later acquired Anthony Davis from the Dallas Mavericks. Washington envisions Young and Davis as an All-Star pairing capable of returning the franchise to playoff contention along with the top overall pick in the draft.

Young appeared in just five games for Washington after the trade, limited by a sprained right MCL sustained in the fifth game of last season. He averaged 17.9 points and 8.0 assists across 15 total appearances split between Atlanta and Washington.

The Hawks dealt Young after identifying Jalen Johnson as their cornerstone, receiving CJ McCollum and Corey Kispert in return. Young had entered the season seeking to demonstrate his value for a four-year, $229 million maximum extension.

Washington also believes Young can accelerate the development of a young core that includes Alex Sarr, Kyshawn George, Tre Johnson, Will Riley and Bub Carrington. The Wizards have lost 64 or more games in each of the past three seasons.

Earlier this week, there were reports that Young could be a potential trade candidate for the Miami Heat should they be unsuccessful in their attempts to trade for Giannis Antetokounmpo.

Young is represented by Aaron Mintz, Rayford Young, Austin Brown and Drew Morrison.