NEW YORK (WFAN) -- Deron Williams made it official on Thursday: he'll be opting out of his contract after the 2011-12 season.
And Nets fans can thank the new CBA.
"Based on the new rules it doesn't make any sense for him to sign the extension," Williams' agent, Jeff Schwartz, told the Bergen Record.
"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."
Any way you look at it, Williams loses money if he extends his contract.
According to the new rules, Williams would only earn around $70 million over four years if he signs an extension with the Nets. If he becomes a free agent and re-signs with the franchise? Roughly $101 million over five years.
Scenario three: Williams signs elsewhere for four years and $73 million.
The point guard took to Twitter Thursday to make his case -- and to quell the panic on the Turnpike.
"Don't know why people are tripping just bc I'm opting out doesn't mean that I won't (re-sign) with the nets! w/ new CBA it makes sense," he tweeted.
Nets general manager Billy King pulled the trigger on the risky trade in February after striking out on Carmelo Anthony. He wants Williams on board when the franchise makes its long-awaited move to Brooklyn after this season.
The team even unveiled a billboard earlier this year that featured a larger-than-life Williams and the tag: "Bound For Brooklyn."
"Schwartz and I had spoken about Deron's contract situation," King said in a statement, "and I am very comfortable with their decision."
Nets fans: Are you OK with Williams' decision to opt out? Sound off in the comments below...
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