Gerald Wallace

Gerald Wallace has a player option for next season to remain with the Nets, but it doesn't sound like exercising it will be his first choice. Wallace told reporters today, including Andy Vasquez of the Bergen Record, that he doesn't want to play on a one-year deal (Twitter link). Wallace said he expects to make a decision about his the option within the next few days.

Re-signing Wallace will be a priority for the Nets, though they'll also be looking to bring back Deron Williams and Brook Lopez. Wallace's option for 2012/13 is worth $9.5MM, so perhaps the Brooklyn-bound Nets could reach an agreement with Wallace that would guarantee him multiple years but pay him less than $9.5MM annually. That would allow the team to regain some cap space for next season.

Of course, while re-signing with the Nets is a possibility, it's not the only option for Wallace if he declines his option. Stefan Bondy of the New York Daily News tweets that the veteran forward intends to test the free agent waters.

Following the deadline deal that sent him to New Jersey, Wallace averaged 15.2 points and 6.8 rebounds in 35.8 minutes per game.

Gerald Wallace hasn't decided whether to pick up his $9.5MM option for next season, but after an upbeat meeting with Nets owner Mikhail Prokhorov this week, his comments to Fred Kerber of the New York Post indicate he's open to coming back to the team next year.

Wallace said he can see himself in a Nets uniform next season, and relayed that he and agent Rob Pelinka have talked about the possibility. Though he said he'll wait to make a decision until the offseason, he is already thinking about what he and his teammates must do next year to improve on their 22-38 record.

“The biggest thing for this team is going to be training camp — keeping guys accustomed to having that real training camp,” he said. “Coming back next year, we’re able to get adjusted to being together.”

Before the Blazers traded him to New Jersey at the deadline, Wallace had indicated he would turn down the option, but was seeking a long-term deal with the Blazers. It's unlikely that the 29-year-old Wallace, two years removed from his All-Star season and putting up his lowest scoring average in seven years, could command $9.5MM a year on the open market. Still, he could secure much more than that spread over a number of years, so that sort of guarantee might be enticing.

Nets GM Billy King said last week he sees Wallace as the key to the team's success going forward, an interesting comment considering the pending free agency of Deron Williams. Though Wallace seems high on Prokhorov, it's unlikely he sees the Nets as favorably as they see him. Still, opting in might be a smart move. He's averaged 14.8 PPG in 13 games with New Jersey after posting just 13.3 PPG in Portland this season, and most of his other numbers are up since the trade as well. If he keeps it up for another season, he could erase some of the doubts raised by his time with the Blazers and increase the value and likelihood of the long-term contract he seeks in free agency. 

The Nets are just 20-37, but GM Billy King has his eyes on building a winner for next season, reports Colin Stephenson of the Star-Ledger. The GM is counting on Deron Williams and Gerald Wallace, both of whom could elect free agency this summer, to return, but believes the cap flexibility they'll have if they don't would be a positive as well.

"I think we’re headed in the right direction, and if you look at our team this year, being as banged up (as it was), to beat Chicago in Chicago, Philly in Philly, New York in New York… we won some games in tough places,'' the GM said. "And you see things getting in the right direction. Winning is important. And that’s what I told Deron: ‘We’re not rebuilding this year. We’re going to build this team to win next year.’''

King sees the trade deadline acquisition of Gerald Wallace as a key to the team's success going forward, even though the former All-Star hasn't turned the team into a winner since the trade, going 5-7 in the 12 games he's played for New Jersey. Plus, his acquisition likely means they'll give up their 2012 first-round draft pick, unless it falls within the top three.

Much rides on the offseason, when the team could lose Williams, Wallace, Brook Lopez and Kris Humphries, four-fifths of its preferred starting lineup. Stefan Bondy of the New York Daily News writes that the pursuit of Williams, in particular, is key for owner Mikhail Prokhorov. Still, the free agent point guard says he doesn't know enough about the owner for him to be a factor in his decision. One team executive Williams presumably does have a relationship with is King, so the onus is on him to woo Williams back.

The Nets have built-in advantages with their free agents, since they can go over the salary cap to sign them and, at least in Williams' case, a max deal could be on the table. Plus, the team is moving to Brooklyn next year, a move that can't hurt the endorsement opportunities available for its players. Still, it's hard to see how bringing them all back, and convincing Wallace to take his $9.5MM option for next season, could instantly turn the team into a contender. The trick might be to let some of them go and find other available parts that are a better fit with what they do bring back, or continue to pin their hopes on convincing Dwight Howard and the Magic to end their troubled relationship. In any case, it's going to be a challenge for King to turn the franchise around as quickly as he'd like.