Toronto Raptors star Kawhi Leonard will decline his player option for next season, but is seriously considering re-signing with the Raptors, according to a report from Yahoo Sports' Chris Haynes.

Leonard will decline a $21.3 million player option to become an unrestricted free agent. He could still sign with the Raptors however, and Toronto is the only team that can offer Leonard a max contract of five years and $190 million.

"Leonard, 27, is believed to be seriously considering re-signing with the Raptors, sources said," Haynes reported.

Haynes reported because of the trust Leonard built with the Raptors, "rival executives view his current team as the favorite to land him when the free-agent negotiating period begins June 30, sources said."

Leonard led the Raptors to their first NBA championship and was named NBA Finals MVP.