Apr 23, 2012; Newark, NJ, USA; New Jersey Nets small forward Gerald Wallace (45) brings the ball up court during the second half against the Philadelphia 76ers at the Prudential Center. Philadelphia 76ers defeat the New Jersey Nets 105-87. Mandatory Credit: Jim O'Connor-US PRESSWIRE
"We've had conversations with his representatives because actually we can talk about the potential of [an] extension if he opts in. We'll leave that there," said King.
Wallace's contract has a player option that must be exercised by June 13 (15 days before the NBA Draft). Wallace has said he plans to opt out, but if he chooses to extend his deal rather than opt out, he can sign a three-year, $30 million extension.
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