Follow the Nets' return to New York with Newsday's Rod Boone.
Nets officially announce Gerald Wallace signing
Keeping in tune with making deals official now that the league’s moratorium has been lifted, the Nets announced the re-signing of Gerald Wallace today.
Wallace, who turns 30 later this month, started in all 16 games he played in with the Nets last season after getting traded here from Portland for a first-round pick. In 35.8 minutes of action per game, the athletic 11-year veteran swingman averaged 15.2 points, 6.8 rebounds and 3.1 assists.
“Re-signing Gerald was a top priority this offseason, and we are very pleased that he will continue to be a Net,” GM Billy King said in a statement. “He is a proven veteran who is a leader both on and off the court, and his style of play is critical to the team’s success.”
Wallace, who signed a four-year, $40-million deal, saw action in 42 games with the Blazers before getting shipped to the Nets, averaging 13.3 points, 6.6 rebounds and 2.7 assists in 35.8 minutes.
The Nets are expected to announce other moves throughout the day, possibly including both sign-and-trades that had already been agreed to. That would be the deal landing Joe Johnson for Anthony Morrow, Jordan Farmar, Johan Petro, Jordan Williams, DeShawn Stevenson, and a 2013 first-round pick acquired from the Rockets.
Forward Reggie Evans was also picked up via sign-and-trade with the Clippers.
Farmer, by the way, reportedly will be bought out by the Hawks for $1.5 million and is set to take a three-year offer to play in Europe.