A person with knowledge of the situation tells The Associated Press that San Antonio Spurs star Tim Duncan has exercised his contract option for next season but is still mulling his playing future.

Yahoo Sports first reported Duncan's decision on Tuesday. The person spoke to the AP on condition of anonymity because the Spurs have not publicly disclosed Duncan's decision.

Duncan exercised the option for $5.6 million. But the move doesn't necessarily mean the 40-year-old franchise mainstay will return for another season.

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Duncan averaged 8.6 points and 7.3 rebounds last season, far below his career averages. But he remains revered and valued by the organization for his leadership and defensive ability, and the Spurs would love to have him back.