HoopsHype.com Rumors

The Mavericks, Celtics, Clippers (should they use the amnesty provision on Mo Williams) and Pacers (as an admittedly expensive third big man/small-ish power forward) all stand out as potentially solid teams for whom Wallace could fill a need, but none are true title contenders at this second, and a few have to make serious roster choices before dealing in other teams’ free agents. SI.com

Boston Celtics, Dallas Mavericks, Indiana Pacers, Los Angeles Clippers, Brooklyn Nets, Free Agency, Gerald Wallace 

Legion Sports: Gerald Wallace has told Nets officials that he will decline his $9.5 mil player option for next season and will become a free agent. Twitter

Brooklyn Nets, Free Agency, Gerald Wallace 

Legion Sports: Rob Pelinka (Wallace's agent) tells me: "This doesn't mean Gerald won't be here next year, we will explore all our options, Gerald loves NY" Twitter

Brooklyn Nets, Free Agency, Gerald Wallace, Agents, Rob Pelinka 

The Nets are waiting on Gerald Wallace to decide whether he will opt in (and extend his contract) or opt out (and become an unrestricted free agent). Wallace has until midnight Wednesday to decide, said a league source. Unlike most NBA players' deals, Wallace's contract ends 15 days before the Draft. NetsDaily

Brooklyn Nets, Free Agency, Gerald Wallace 

Johnson said the team’s first priority was to re-sign unrestricted free agent Deron Williams and Gerald Wallace (player option) to go along with Brook Lopez. “Hopefully we’ll get that one resigned in terms of Deron Williams,” Johnson said. “We’re also excited about Brook Lopez, he hurt his foot last year. But we feel if we get Deron Williams resigned, get Gerald Wallace resigned, Brook Lopez, we feel we have the one, three and five positions covered. ZagsBlog.com

Brooklyn Nets, Free Agency, Avery Johnson, Gerald Wallace, Deron Williams, Brook Lopez 

The Nets really gave up the No. 6 pick in this year’s draft as part of the Gerald Wallace deal? Not only did they do that, but they fully intend on seeing Wallace opt out of the final season of his deal, at almost $10 million, and then giving him a new three-year, $24-million deal that will take him through his 14th season. “After the Hornets, the next biggest winner on lottery night was Gerald Wallace,” said one team exec. New York Daily News

Brooklyn Nets, Gerald Wallace 

Of course, King also has said he expects Wallace to become a free agent after the season, leaving the Nets in a dangerous negotiating position. "We’re not going to be held hostage," King said. "We’ll negotiate and do a fair deal and get it done." Sulia

Brooklyn Nets, Free Agency, Gerald Wallace, Billy King 

Billy King defended his trade for Gerald Wallace after the Nets were shut out of the lottery. "I think what Gerald Wallace brings to the table is a lot better than the younger guys. They may take two or three years and, as I said, we’re trying to win right away. Deron’s getting older. We don’t want to be in a rebuilding process. So we’re going to add some veterans to this roster and try to improve it." Sulia

Brooklyn Nets, Draft, Trade, Gerald Wallace, Billy King 

Stefan Bondy: Another disappointment for the Nets. They lose their pick to Portland as part of the March deal for Gerald Wallace Twitter

Brooklyn Nets, Portland Trail Blazers, Draft, Trade, Gerald Wallace 

The date for Wallace opting in on the $9.5 million in the final year of his contract is June 13, which King applauds. “As a team, you want it sooner. You don’t want July 1 because you want to know by the draft,” King said. “I didn’t do it but I think it’s a good way to have it done if he’s opting in, then you know before the draft. If he’s not opting in you know before the draft.” New York Post

Brooklyn Nets, Gerald Wallace 

Billy King on Gerald Wallace, who has a player option, but has publicly said he wants to return to the Nets next season: "We've had conversations with his representatives because actually we can talk about the potential of [an] extension if he opts in. We'll leave that there." (The Nets likely won't make a move with their free agents until they know Williams' definite plans.) ESPN.com

Brooklyn Nets, Free Agency, Gerald Wallace, Billy King 

Wallace has to make a decision on his one-year player option worth $9.5 million by June 15. At any time, the Nets can sign him to an extension of up to two years on top of the one-year player option. The extension could be no greater or less per year than 7 percent of $9.5 million. So we're looking at having Wallace locked up somewhere in the ballpark of three years, $29 million. That would avoid Wallace going to free agency, but obviously at a steep price. If the Nets lose Wallace, they essentially traded a first-round pick for 16 meaningless games with the Nets. If Wallace opts out – which King said he expects – the Nets can sign him up to five years because they retain his Bird Rights. “Deron (Williams) is 27 years old. Gerald is 30. The goal is to win now. Three years can go by quick, four years can go by quick. …When you have that window, you go for it,” King said. “I told (Wallace) that in his (exit interview) as well that he deserves a multi-year contract.” New York Daily News

Brooklyn Nets, Free Agency, Gerald Wallace, Deron Williams 

The Nets plan to sign Gerald Wallace to a multi-year deal in free agency or an extension, according to GM Billy King. “Obviously he’s a big part of it and his reality being 30 years old, this is probably going to be one his last chances to get a big contract before he gets beyond that,” King said today. “So our goal is try to get him where he’s comfortable with the numbers, we’re comfortable with the numbers, and we keep him in the fold.” New York Daily News

Brooklyn Nets, Gerald Wallace, Deron Williams 

Andy Vasquez: Billy King said he doesn't expect Gerald Wallace to opt in to his player option. But "that doesn't mean he's leaving." Twitter

Brooklyn Nets, Gerald Wallace, Deron Williams 

If there were a leader, the players' discontent with coach Nate McMillan never would have spread to the point where the team flat out quit on him. The whining whispers of Raymond Felton, in particular to Gerald Wallace, would have been stopped. The sulking of Jamal Crawford would have been stifled. And the indifference of Marcus Camby would have been challenged. Oregonian

Portland Trail Blazers, Gerald Wallace, Raymond Felton, Nate McMillan, Jamal Crawford, Marcus Camby 

Stefan Bondy: Gerald Wallace says he'll test free agency. He has a one year player option worth 9.5 million with incentives Twitter

Brooklyn Nets, Free Agency, Gerald Wallace 

Stefan Bondy: Gerald Wallace says he wants a multi-year deal but ultimately I think he and Jordan Farmar will exercise player options. Twitter

Brooklyn Nets, Free Agency, Gerald Wallace 

Tim Bontemps: I've rarely seen athletes join a team and command the immediate respect Gerald Wallace has. He's a very impressive guy, and plays very hard. Twitter

Brooklyn Nets, Free Agency, Gerald Wallace 

Stefan Bondy: Gerald Wallace says he'll test free agency. He has a one year player option worth 9.5 million with incentives Twitter

Brooklyn Nets, Gerald Wallace 

Andy Vasquez: Gerald Wallace says he expects to make a decision on his future in the next week. "I don't want to play on a one year deal." Twitter

Brooklyn Nets, Gerald Wallace