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Nets’ Deron Williams Won’t Sign Contract Extension, Record Says

Deron Williams #8 of the New Jersey Nets. Photographer:  Jesse D. Garrabrant/NBAE via Getty Images
Deron Williams #8 of the New Jersey Nets. Photographer: Jesse D. Garrabrant/NBAE via Getty Images

Dec. 1 (Bloomberg) -- New Jersey Nets All-Star guard Deron Williams won’t sign a contract extension and likely will become a free agent after the 2011-12 season, the Record of Bergen County, New Jersey, said on its website.

“Based on the new rules it doesn’t make any sense for him to sign the extension,” Jeff Schwartz, Williams’s agent, told the newspaper. “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 probably opt out of his deal.”

Williams could get a two-year extension from the Nets worth about $39 million, added to the two years and $31 million still on his contract, the newspaper said, citing rules established in the NBA labor deal that’s been approved in principle. By opting out, Williams could re-sign for five years and about $101 million or join another team for four years and $73 million.

“Jeff and I had spoken about Deron’s contract situation and I am very comfortable with their decision,” Nets General Manager Billy King said in an e-mailed statement.

Williams played in Turkey during the NBA work stoppage that is now nearing a conclusion, with the league planning a 66-game season beginning Dec. 25. The 27-year-old guard has career averages of 17.2 points and 9.2 assists per game in six seasons with the Nets and Utah Jazz.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net.

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net.

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