Jeremy Lin withdrew from the US select team that will practice against the Olympic national team in Las Vegas from July 6 to July 11.
The New York Knicks guard cited free agency as a reason for his decision. Lin made a splash last season, after coming from nowhere to lift the struggling Knicks, before an injury ruled him out of the final weeks of the regular season and the playoffs.
Boston Celtics center Greg Stiemsma also pulled out of the Select team after undergoing a non-surgical process for plantar fasciitis.
"It was such an incredible honor to be selected, but I have withdrawn my name from the team because of my status as a free agent," Lin said in a statement released by USA Basketball late on Monday.
"I hope to have the opportunity to participate with USA Basketball at some point in the future."
Lin is a restricted free agent and is widely expected to remain with the Knicks, with the New York franchise having the option to match any offer made by any other team.
Philadelphia 76ers point guard Jrue Holiday was added on Monday as Lin's replacement, in a roster which also contains the likes of Kyrie Irving (Cleveland Cavaliers), Kawhi Leonard (San Antonio Spurs), Lance Thomas (New Orleans Hornets), Klay Thompson (Golden State Warriors) and John Wall (Washington Wizards), Paul George (Indiana Pacers), Taj Gibson (Chicago Bulls), Gordon Hayward (Utah Jazz), DeJuan Blair (San Antonio Spurs), DeMarcus Cousins (Sacramento Kings), DeMar DeRozan (Toronto Raptors) and Derrick Favors (Utah Jazz).
