NBA Rumors: Deron Williams Still in Play for Nets Despite Turning Down Extension

Don't panic just yet, New Jersey Nets fan (I'm guessing your name is Steve?). Deron Williams isn't expected to sign an extension with his current NBA team, but that hardly precludes him from sticking around to lead the franchise to Brooklyn.

Williams' agent, Jeff Schwartz, informed The Bergen Record of his client's decision on Thursday:

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“Deron will not be signing the extension. Based on the new rules it doesn’t make any sense for him to sign the extension. It has nothing to do with how much he likes New Jersey. Because of the rules, he’s going to play the season out and opt out of his deal.”

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Schwartz is certainly right to advise D-Will as he has in this situation. The new collective bargaining agreement would only allow for the Nets to tack on another two years and $39 million to the two years and $31 million remaining on Williams' current deal. However, if Williams opts out of the last year of his deal to enter the free-agent market in 2012, which he's expected to do, he'll be eligible to sign a five-year, $101 million contract to stay put with Mikhail Prokhorov's riches or seek employment elsewhere for roughly $73 million over four years.

Either way, that would put Williams, who spent the lockout playing in Turkey with Besiktas, in a much more comfortable and secure position financially over the long haul.

The task will fall to Nets management to convince the two-time All-Star to stick around long enough to be the face of the franchise as it moves to the Barclays Center in Brooklyn for the 2012-13 season.

Adding Dwight Howard would likely help quite a bit in that endeavor. According to ESPN, the Nets are already busy preparing a package of players and picks to entice the Orlando Magic to give up their cornerstone. The New Jersey would send Brook Lopez and a pair of first-round selections to central Florida in exchange for Superman and the bloated contract of Hedo Turkoglu.

Such a deal, combined with the release of Travis Outlaw by way of the amnesty clause, would instantly vault the Nets into playoff contention in the Eastern Conference while stealing more thunder from the New York Knicks and their pair of superstars, Amar'e Stoudemire and Carmelo Anthony.

Even if the Nets don't swing a trade for Howard, they should be able to fill their frontcourt needs via free agency, with Nene and Tyson Chandler atop their list. Neither player would add anywhere near the same appeal or on-court basketball acumen that Howard would, though New Jersey could easily sneak into the postseason with either one holding down the fort.

Whether that would be enough to convince D-Will to stay remains to be seen. The Nets will need to do everything within their power to retool their roster into a consistent winner between now and the summer of 2012 if for no other reason than to pique Williams' interest. Otherwise, it's entirely possible that he'll seek a sign-and-trade with whoever loses out on the Chris Paul sweepstakes this season.

For now, though, the news of Williams' likely decline of a contract extension is hardly reason for hasty reaction for folks along the Hudson. The Nets still hold the majority of the cards—a long, more lucrative deal; a billionaire owner; aggressive management looking to upgrade the roster—that will allow them to go all in on Williams without too much fear of losing their seat at the negotiating table.