American point guard Ware was one of five high-profile players who exercised their right to opt out of their contracts before Monday's deadline.

The option was part of an agreement between the NBL, its nine clubs and the players' association that resulted in player salaries for next season being slashed by up to 50 per cent due to the dire financial outlook caused by the coronavirus pandemic.

Ware was joined by dual NBL MVP Bryce Cotton and Nick Kay (both Perth), Matt Hodgson (Brisbane) and Xavier Cooks (Sydney) in cancelling their deals.

Ware was the league's highest-paid import last season after being lured to Sydney from Melbourne United, where he had been part of a title-winning team in 2018.

"My agent and I will still be in talks with the Kings and if the financial situation changes then we may be able to make something work in the future," Ware said.

"I want to thank the Sydney Kings organisation, my teammates, coaches and the great city of Sydney for always having our backs this season.

"I'm disappointed that we didn't get to finish the season the way we wanted and bring the trophy back to Sydney.

"My hope is that some day we can bring the 'Chip (championship) back to where it belongs."

Each of the five players who opted out of their deals will be tied to their respective clubs if they change their minds and return to the NBL next season.

NBL chief executive Larry Kestelman took a positive view of the relatively small number of players who chose to leave and is confident coronavirus restrictions will allow imports to play in Australia next season.

"We are very pleased that 90 per cent of contracted players have chosen to remain with their NBL clubs," Kestelman said.

"This is a great endorsement of the NBL and its status as one of the leading basketball leagues in the world and we thank the players for their support."

Australian basketball's second-tier competitions have been cancelled for 2020 but the NBL this week commenced work on identifying a start date for its 2020-21 season.

The season usually begins in October but Kestelman said the league will not hesitate to push that back if coronavirus restrictions will prevent fans from attending games.

Australian Associated Press