Nets Re-Sign Deron Williams

July 10 2012 at 11:55pm CDT By Michael Pina

11:55pm: Williams announced via Twitter that he has officially signed his contract to remain with the Nets.

JULY 10TH, 11:47pm: Williams' contract will include an early termination option after the fourth year, tweets ESPN.com's Marc Stein. The point guard is currently finalizing his deal in Las Vegas, says Ken Berger of CBSSports.com (via Twitter).

JULY 3RD, 6:09pmIn a message from his official Twitter account, free agent point guard Deron Williams announced that he has elected to sign with the Nets. Williams will sign a maximum-salary, five-year contract, tweets Yahoo! Sports columnist Adrian Wojnarowski. The deal will amount to $98.77MM, as we calculated back in May.

Heading into the offseason, Williams was widely regarded as the number one free agent available on the market. As we neared July 1, reports surfaced that he had narrowed his options down to two teams: the Nets and his hometown Mavericks. Considering Dallas could only offer a four-year contract that was roughly $25MM less than what Brookyn had on the table, Williams' decision was not a shocking one. 

Yesterday the Nets agreed to trade for All-Star guard Joe Johnson without giving up any prime assets, and now we wait and see if players such as Kris Humphries, Brook Lopez, and MarShon Brooks will end up being moved to the Magic in a deal involving Dwight Howard. If the Nets cannot facilitate a deal for Howard, they'll look to re-sign Humphries, who's currently an unrestricted free agent, tweets Wojnarowski. 

Had the Nets lost out on Williams, they were prepared to offer Goran Dragic a $9MM per year contract, tweets Wojnarowski. 

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