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Decline Carl Landry's Option? An Intriguing Idea

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ShamSports has a brilliant if terrifying idea, one which he doesn't really endorse but presents nonetheless:

[Carl] Landry is under contract for only $3 million next season, a veritable steal for a man of such great production. ... At the end of that, Landry will be an unrestricted free agent, but if they decline his team option this summer, he can be a restricted free agent will full Bird rights.

Sacramento has the option of picking up Landry's extremely fair $3 million option for 2010-11 and watching Landry become an unrestricted free agent in July 2011 (when, Stern willing, a new collective bargaining agreement will be ratified), or declining the 2010-11 option this summer, making Landry a restricted free agent in 2010, giving the Kings the right of first refusal on a contract offer in a crowded market.

At the center, it's not a "risk vs. safety" decision. It's "immediate risk vs. future risk." I would err on the side of future risk, given the way the CBA winds blow and questions regarding Landry's knees. But if the Kings have no other major plans for this summer, it wouldn't be the worst idea the try and lock in Landry through his peak. Some very interesting algebra in there.