James Harden has declined his player option of approximately $47.4 million for the 2022-23 season, a source confirmed Wednesday to NBC Sports Philadelphia.

The Athletic's Shams Charania first reported the news. 

Asked after the Sixers' season-ending loss to the Heat whether he'd exercise his option, Harden said, "I’ll be here, yeah. Whatever allows this team to continue to grow and get better — and do the things necessary to win and compete at the highest level.”

As ESPN's Adrian Wojnarowski notes, Harden would enhance the Sixers' options in free agency by signing a new contract with a salary significantly under $47.4 million in Year 1.