The Los Angeles Lakers big man's decision could come down to where Carmelo Anthony ends up.
However, although the Thunder were at first considered the frontrunners to sign Gasol, the team now see themselves as a "long shot" to secure the Spaniard's signature.
The San Antonio Spurs, Chicago Bulls and New York Knicks are all in the race to lure the four-time NBA All-Star, and possibility still remains that he remains with the Los Angeles Lakers.
Gasol's decision may come down to which team is able to sign coveted free agent Carmelo Anthony. The former NBA scoring champion has met with the Knicks, Lakers, Bulls, Dallas Mavericks and the Houston Rockets.
The Lakers and Knicks are regarded as the favourites to sign Anthony next year, and each have reportedly offered the small forward max-level contracts. ESPN's Marc Stein reports that Gasol is likely to sign with whichever team lures Anthony.
Competition for Pau, though, remains stacked. You've got Thunder/Spurs/Bulls still chasing PLUS Knicks or Lakers depending on who gets Melo— Marc Stein (@ESPNSteinLine) July 8, 2014
Stein also reports that the Knicks are concerned about whether Anthony will re-sign in New York after waiting for more than a week since free agency opened.
Vibe I get out of New York, meanwhile, is legitimate unease ... given that some in the organization expected a decision from Melo by Monday— Marc Stein (@ESPNSteinLine) July 8, 2014
If Anthony does sign for the Lakers, Gasol will probably join him alongside star shooting guard Kobe Bryant and Julius Randle, the seventh pick in the 2014 NBA Draft.
If the small forward elects to stay in New York, however, Gasol will perhaps link up with his former coach Phil Jackson, who is now the team president of the Knicks.