All-star point guard Kyle Lowry has officially opted out of his contract with Toronto Raptors, the 31-year-old’s agency announced Friday morning.

The move comes after Lowry confirmed during Monday’s end-of-season media availability that he would be opting out of his four-year, $48-million deal to become an unrestricted free agent on July 1. Lowry added he had not thought much about free agency, and will remain in Toronto until June so his son, Karter, can finish school.

“Free agency is fun, but it’s stressful,” Lowry said. “It’s something that I’ve been through before — this will be my third time I’ve been through it. So it’s fun … it’s a little bit stressful because you’re making a decision on your family, a franchise — a new franchise, an old franchise. It’s always something that you’re changing.