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.
5 thoughts on “Nets Sign Gerald Wallace To Four-Year Deal”
Good sign. Wallace does a lot on the court.
I see no one learned anything from the labor strife. 4/$40 is nuts for this guy.
4 years is a bit rough but he’ll earn that 10 mil, dude can spread the floor and plays great D.
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 ?
wallace is a good player but i think 8 million is more his range ..