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Follow the Nets' return to New York with Newsday's Rod Boone.

Nets re-sign Wallace and other happenings/rumors

New Jersey Nets' Gerald Wallace (45) goes up

New Jersey Nets' Gerald Wallace (45) goes up for a shot against Philadelphia 76ers' Andre Iguodala (9) during the first quarter. (April 23, 2012) (Credit: AP)

Billy King said he didn't think it would be hard to get a new deal done with Gerald Wallace.

Apparently, the Nets GM was right.

Wallace has reportedly agreed to a four-year, $40 million pact, making him one of the first players to agree to terms here on the first day of free agency. Teams can't actually sign free agents until July 11, when the NBA's moratorium on player transactions is lifted.

Bringing Wallace back is just the first of what should be a flurry of moves for the Nets over the coming days.

ESPN reported Deron Williams, who as we know is the centerpiece of the Nets' plans, will meet with the Nets and representatives from his hometown Mavericks somewhere in the New York metro area tomorrow. The report also said Williams could make a decision as soon as tomorrow night.

According to a Yahoo! report, the Nets are in the midst of discussions with the Hawks to possibly acquire All-Star shooting guard Joe Johnson. If the trade falls through, the report says, the Nets may switch gears and go hard after free agent guard O.J. Mayo, who wasn't tendered by the Grizzlies and became an unrestricted free agent.

Yahoo! also reported the Nets were talking with the Rockets about trading for power forward Luis Scola, but added those discussions have been tabled for the moment.  

Of course, there's also the Dwightmare that's growing steam yet again. ESPN reported Howard met with new Magic GM Rob Hennigan in L.A. on Friday and said told him he wants to be traded to Brooklyn. Howard also contends he was "blackmailed" by the organization into waiving his early termination option. Oh boy.

So dig in, Nets fans. This is going to be a long, wild ride.

Tags: Gerald Wallace , Deron Williams , Joe Johnson , Dwight Howard , Billy King , Luis Scola , O.J. Mayo , Rob Hennigan , Dwightmare , Grizzlies , Rockets , free agency

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