Gerald Wallace Opts Out of Contract; Will Become Free Agent

According to the Charlotte Observer's Rick Bonnell, Gerald Wallace has declined the option in his contract for next season with the Nets and is now on the open market. This was the expected move for awhile since it would make more sense for Wallace to sign a multi-year deal instead of exercise the option for one season. There is still a good chance Gerald will re-sign with the Nets and will be with the team in Brooklyn since the Nets hold his bird rights, but in free agency, anything is possible. However, if he doesn't re-sign with the Nets, this past March's trade will go down as one of the worst the Nets have ever made and quite possibly one of the worst in NBA history.