LOS ANGELES CA - JANUARY 14: Jordan Farmar #2 of the New Jersey Netsstands on the court in the game against the Los Angeles Lakers at Staples Center on January 14 2011 in Los Angeles California. The Lakers won 100-88. NOTE TO USER: User expressly acknowledges and agrees that by downloading and or using this photograph User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Stephen Dunn/Getty Images)
Jordan Farmar had until midnight Saturday to opt in or out of his $4.25 million contract for 2012-13. Colin Stephenson broke the story with a tweet a little before 7 p.m. While Farmar's salary remains on the Nets cap, it also means that he can be traded starting on July 11, after the trade moratorium ends.
The Nets still have roughly $40 million in cap space. Farmar averaged 10.4 points and 3.3 assists last season and was the Nets leading three-point shooter at 44.0%. He did miss 27 games and finished the season on the bench with a groin injury.
Nets' Jordan Farmar picks up option on final year of his contract - Colin Stephenson - Star-Ledger