Monta Ellis has informed the Milwaukee Bucks that he will opt out of the last year of his deal, according to league sources.

Ellis, who had one year, $11 million left on his contract, will become one of the most coveted free agents on the market this summer.

Sources say the Atlanta Hawks, Dallas Mavericks and the Los Angeles Lakers are three teams that have interest in Ellis, though the Lakers could only get Ellis via an unlikely sign-and-trade deal.

Ellis, who originally signed a six-year, $66 million deal with the Golden State Warriors, is close with Lakers free agent Dwight Howard. The two have long desired to play together.

If Howard cannot acheive his top goal of playing with Chris Paul, teaming with Ellis may become an option he will strongly consider.

Ellis' goal in signing his original deal was to give him the flexibilty to become a free agent in his prime.

The Bucks reportedly had offered Ellis a three-year, $36 million extension earlier this month but the offer was contingent on him not opting out of the final season of his contract.

Ellis led the Bucks with 19.2 points per game in the regular season, his eighth in the NBA after being drafted by the Warriors 40th overall in 2005.