There's been a lot of talk about Metta World Peace getting amnestied by the Los Angeles Lakers, but that will only happen if he picks up his player option.
Metta won't be making the decision though; his agent Marc Cornstein will.
Metta explained this, saying:
“I don’t want to think off emotions. I hired my agent for a reason so I’ll let him and the Lakers do their job to try to keep me a Laker for long term. Rather than stress myself out and worry about what’s going on for the Lakers, I’ll let them do their job. Then they can get back to me.”
Since his agent is working it out, and Cornstein's commission depends on how much Metta makes, it's likely he'll advise Metta to pick up the option.
He's slated to make $7.7 million, and it's very unlikely that any team will give him that amount, so it would make the most sense for Metta to pick up the option, and then the Lakers will likely amnesty him.
However, Metta previously said he'd be willing to work out a new contract with the Lakers, since he wants to stay with them. It's possible they'd work out a deal to stretch the $7.7 million over several years, because then everyone gets their money, but the Lakers lose cap space for the very important 2014 free agent class.