Report: Barnes rejects contract extension

Golden State Warriors forward Harrison Barnes has opted against signing a four-year $64 million contract extension, according to Yahoo Sports' Adrian Wojnarowski.

While this is likely to be the starting point of negotiations between both parties, the Warriors have until October 31 to come to an agreement with Barnes. Should they fail to do so, the 23-year-old will become an unrestricted free agent in July 2016. 

The rise in the salary cap means that Barnes, who could be targeted by a number of team, could command a big-money contract if he was to enter free agency.

With Barnes rejecting a $16 million-per-year contract, the reigning NBA champions are in a race against time to secure the long-term services of their highly talented forward, who averaged 10.1 points, 5.5 rebounds and 1.4 assists per game last season.