In the most detailed discussion of Gerald Wallace's contract situation, Sports Xchange reports that the Nets "apparently were aware of Wallace's desire to seek free agency and have put together a contract package, totaling more than $30 million, in an attempt to keep Wallace with the franchise."
In addition, the website, best known for its game previews during the season, offers a more extensive quote than previously reported from Wallace's agent, Rob Pelinka. "Even though Gerald is opting out, it doesn't mean that Gerald won't be with the Nets next season," Pelinka said. "We will explore all of our options, but make no bones about it -- Gerald loves New York and he loves the Nets organization."
Sports Xchange also notes that the Nets can offer Wallace a contract with a fifth year, taking him up to just short of his 35th birthday and 15th year in the league. It adds that Jordan Farmar's string of injuries, particularly the nagging one to his groin, has hurt his marketability and he will almost surely decide not to opt out of his $4.25 million contract next season.
Getting Inside - Brooklyn Nets - Sports Xchange