Brooklyn Nets forward Gerald Wallace confirmed on Wednesday night that he plans to opt out of the final year of his contract, putting him on the NBA free agent market this year. Wallace will be seeking a long-term deal for his services, and a possible return to the Nets is not out of the question, says Rick Bonnell of the Charlotte Observer.
Wallace was due to make $9.5 million in the final year of his deal with the Nets. Wallace joined the Nets in March as part of a deal with the Portland Trail Blazers that sent over Mehmet Okur, Shawne Williams and a 2012 protected first-round pick to bring him out East.
The Nets have said that getting Wallace signed to a long-term deal is a priority. However, their decision may hinge on what happens with Deron Williams. The team has only four players under contract currently.