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