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Nets re-sign forward Gerald Wallace

07/11/2012 3:48 PM ET

The Nets' bold move to acquire Gerald Wallace has paid off.(AP)
The Nets have announced that they have officially re-signed Gerald Wallace, their 29-year-old forward. According to previous reports, Wallace will get $40 million over four years. He averaged 15 points, 7 rebounds and 3 assists in his short tenure with the Nets,

Wallace was traded to the Nets at the deadline after Dwight Howard decided to stay in Orlando. The deal was controversial because in addition to Mehmet Okur and Shawne Williams, the Nets sent Portland a top three protected pick, which Portland used to take Damian Lillard. The Nets also received two trade exceptions, one of which they are expected to use later Wednesday to complete a trade for Reggie Evans.

"He is a proven veteran who is a leader both on and off the court, and his style of play is critical to the team's success." said Billy King.

Originally published at Nets Daily.

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