AP Source: Duncan back for Spurs in 2014-15
Published: June 23, 2014 05:03PM
Updated: June 24, 2014 04:37PM
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San Antonio Spurs forward Tim Duncan (21) smiles while celebrating in the locker room after Game 5 of the NBA basketball finals against the Miami Heat on Sunday, June 15, 2014, in San Antonio. The Spurs won the NBA championship 104-87. (AP Photo/David J. Phillip)

A person with knowledge of the decision tells The Associated Press that Tim Duncan is exercising the option on his contract for 2014-15 and will return to play for the San Antonio Spurs next season.

Duncan turned 38 in April and won his fifth championship with the Spurs in June. That led to some speculation that he could retire after 17 seasons in the league.

But many also expected Duncan to return next season because he continues to play at a high level. Duncan will make $10.3 million next season as part of a contract designed to allow the Spurs to surround him with top-flight talent. The person requested anonymity because an official announcement has not been made.

Yahoo! Sports first reported the decision.