Sources: Chase Budinger picks up contract option, passes on free agency

Minnesota Timberwolves forward Chase Budinger has exercised the $5 million player option on his contract for the 2015-16 season, league sources told Yahoo Sports.

Budinger filed the necessary paper work on Wednesday, passing on the chance to become an unrestricted free agent this summer, sources said.

Budinger, 26, finished this season strong, averaging nine points and shooting better than 50 percent over the final 2½ months of the season. At 6-foot-7 and with an ability to spread the floor with his shooting, Budinger has remained an intriguing trade piece for contending teams.

For the season, Budinger averaged 6.8 points, three rebounds and one assist in 19.2 minutes a game. Budinger played three seasons with the Houston Rockets before a trade to Minnesota in 2012.

More NBA coverage: