Nets fans can finally breathe a sigh of relief.
Point guard Deron Williams will reportedly re-sign with Brooklyn for a max deal, somewhere in the neighborhood of five years and $100 million. It is a major victory for general manager Billy King who went all in on Williams at the 2011 trade deadline.
Williams, a three-time NBA All-Star, was acquired from Utah for Derrick Favors, Devin Harris and two first-round draft picks on Feb. 23, 2011.
He had just a year remaining on his deal, meaning the Nets had to re-sign the guard this offseason or suffer a tremendous setback for the franchise.
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He tweeted the news -- and accompanying Brooklyn Nets logo -- himself from his official account:
Made a very tough decision today.... lockerz.com/s/222071318
— Deron Williams (@DeronWilliams) July 3, 2012
Williams had narrowed his options to either the Nets or Mavericks. He grew up in The Colony, Texas, a suburb of Dallas, and it was widely known that Williams longed to play in his hometown if he didn't believe the Nets would be competitive going forward.
Dallas could only offer four years and $75 million on a max deal. The Nets, as his current team, could offer a larger contract due to the collective bargaining agreement.
Williams hinted strongly during the season that he would re-sign were the Nets able to acquire Magic center Dwight Howard. Howard didn't opt out of his contract this season as expected, but the Nets are reportedly still pursuing a trade for the league's best big man. Multiple sources have reported the Nets have offered Orlando a package including Brook Lopez, Kris Humphries, MarShon Brooks and three future first-round picks for Howard. Lopez and Humphries would both be in sign-and-trade deals.
The Nets traded a wealth of expiring contracts, including Anthony Morrow and Johan Petro, and a first-round pick for Atlanta's Joe Johnson yesterday. Johnson is on a max contract with a large amount of money remaining, but does give the Nets one of the best backcourts in the NBA paired with Williams.
Follow Metro New York Sports Editor Mark Osborne on Twitter @MetroNYSports.