SAN ANTONIO ? San Antonio All-Star Tim Duncan plans to sign a long-term deal with the NBA champions, the San Antonio Express-News reported Monday.

Duncan, the league’s MVP the past two seasons, decided not to exercise an option in his four-year contract. By not exercising the option, he will become a free agent. But that doesn’t mean the 7-foot forward is thinking about leaving.

“Tim intends to re-sign with the Spurs once the details of a long-term deal can be finalized,” said Lon Babby, Duncan’s agent.

As a free agent, Duncan, 27, cannot sign a new contract before July 16. He is eligible for a deal up to seven years worth $122 million.

His last contract, signed in the summer of 2000, was a three-year deal valued at $32.6 million, with the fourth-year option worth an additional $13.3 million.

Duncan, who has played six seasons in the NBA, averaged 24.7 points, 15.4 rebounds and 3.3 blocked shots in the playoffs, which culminated with the Spurs beating the New Jersey Nets in the finals.