Per ESPN's Marc Stein, Al Jefferson has accepted his player option and will remain a Charlotte Hornet for the 2015-2016 season. His salary will be $13.5 million for the season. By delaying his free agency for a year, the 30-year-old Jefferson will enter free agency during the summer of 2016, when the cap is expected to increase dramatically, possibly by $30 million. This ensures that his final long term deal as a top player will be worth far more than he could get this summer.
For the Hornets, this is certainly a boon in the short term, but hurts their chances of retaining Jefferson beyond this season, at least at a reasonable price. For a team coming off a 33-49 season, their retention of Jefferson will keep them in contention for the latter playoff spots in the East.