The New Jersey Nets pulled off the biggest shocker in recent NBA trade deadline memory, acquiring Deron Williams from the Utah Jazz for Devin Harris, Derrick Favors and two first-round picks. Williams is probably a better player than Carmelo Anthony, so this is a huge coup for the Nets. They finally have their star player, and have now positioned themselves to possibly pick up another (Dwight Howard?) next season.
Deron Williams Trade To Nets Cannot Include Long-Term Contract Extension Yet
However, it is worth noting that Williams is not officially a Net for the long-term ... yet. Whereas the Knicks’ trade for Anthony included an immediate three-year, $65 million contract extension, a similar long-term commitment from Williams to the Nets will have to wait until the summer because Williams’ current contract does not expire until 2012. According to Larry Coon, the Nets cannot offer Williams a long-term contract extension under the current Collective Bargaining Agreement.
Just confirming what others have already figured out -- Deron is NOT eligible for an extension before the CBA expires.
It’s probably a formality that Williams will sign his new contract, but what it does mean is that it will be under a new CBA that may include significant salary rollbacks. In other words, the Nets may secure a better player for even less money long-term.
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