Earl Clark has reversed course and elected not to become an unrestricted free agent, reports Alex Kennedy of HOOPSWORLD. Clark notified the Orlando Magic he will exercise his player option, worth $1.24 million, for the 2012/13 season.

Orlando Pinstriped Post first reported on June 22nd that Clark was leaning toward testing free agency. Six days later, Clark's agent, Happy Walters, announced that Clark would indeed forego his option.

Clark's decision to test free agency came as a surprise, as it seemed unlikely he would get a more lucrative deal on the market following a season in which the 24-year-old big man shot 36.7 percent from the field.

The Magic now have approximately $50.2 million on the books for 2012/13, not including contracts for rookies Andrew Nicholson and Kyle O'Quinn or the $6.2 million J.J. Redick will be owed if not waived on or before July 8th.

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