Nets Sign Gerald Wallace To Four-Year Deal

JULY 11TH, 12:08pm: The Nets have officially re-signed Wallace, the team announced today (via Twitter).

JULY 1ST, 10:34am: A source tells Howard Beck of the New York Times that all four years of Wallace's contract will be guaranteed (Twitter link).

9:30am: The Nets will sign Wallace for four years and $40MM, tweets Fred Kerber of the New York Post. Adrian Wojnarowski of Yahoo! Sports confirms that the two sides have reached an agreement (Twitter link).

9:23am: The Nets and Gerald Wallace are close to verbally agreeing to terms on a new contract, tweets ESPN.com's Marc Stein. Wallace, who was acquired by Brooklyn at this year's trade deadline, declined his 2012/13 player option, but didn't necessarily intend to leave the Nets, preferring a multiyear contract to an expiring deal.

While Wallace was expected to draw some interest from teams in need of a small forward, it would have been surprising if the Nets had let him get away. In order to acquire Wallace, the team infamously traded away a lottery pick that turned into Damian Lillard, so it was unlikely that they would have let him walk after just 16 games as a Net. Brooklyn also seems to view the 29-year-old as a piece that could help convince Deron Williams to re-sign.

About a month ago, a report suggested that Wallace and the Nets could agree to something around three years and $24MM, but Stein says the new contract is expected to be for four years (Twitter link). While is doesn't appear Wallace will top the $9.5MM annual salary he could have earned had he opted in, the total guarantee on his new deal will greatly exceed that amount.

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5 thoughts on “Nets Sign Gerald Wallace To Four-Year Deal

  1. dc21892

    Good sign. Wallace does a lot on the court.

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  2. $17049574

    I see no one learned anything from the labor strife. 4/$40 is nuts for this guy.

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  3. RFsnapple

    4 years is a bit rough but he’ll earn that 10 mil, dude can spread the floor and plays great D.

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  4. Gonzalesv

    if they dont sign wallace and lopez cant they just sign howard in the offseason ?? or if they signed wallace to a one yeard deal ?

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  5. Gonzalesv

    wallace is a good player but i think 8 million is more his range ..

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