Gerald Wallace had a solid first month in a New Jersey Nets uniform, averaging 15.2 points, 6.8 rebounds, 3.1 assists and 1.4 steals over the last 16 games of this season. But according to Stefan Bondy, who covers the Nets for the New York Daily News, Wallace will be testing free agency this summer.

Gerald Wallace says he'll test free agency. He has a one year player option worth 9.5 million with incentives

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Stefan Bondy (@NYDNInterNets) April 27, 2012

Wallace re-signed with the Charlotte Bobcats in the summer of 2007 for six years and $57 million, but the final season is a player option. Wallace has been traded twice in the last two seasons — first from Charlotte to the Portland Trail Blazers at the 2011 trade deadline, and then from Portland to New Jersey this year — and it sounds like he has no interest in remaining a Net.

Wallace turns 30 this summer. He was an All-Star and a first-team All-Defense selection in 2010.

Portland Trail Blazers forward Gerald Wallace informed the team that he would not be seeking a contract extension with the club this season due to the limitations within the new collective bargaining agreement, The Oregonian reports. Wallace, however, says that he is open to signing a long-term extension with Portland after this year that would allow him to retire as a Trail Blazer.

Wallace is technically under contract with Portland through the 2012-13 season, but he has the option to opt-out of the final year of his deal that would pay him $11.4 million. Under the current collective bargaining agreement, if Wallace were to sign an extension with the club he would only be able to add two years to his current contract. If he opts out of his deal and becomes a free-agent, he can re-sign with Portland for as many as four seasons.

New Jersey Nets guard Deron Williams announced prior to the 2011-12 season that he will follow a similar plan as Wallace. Williams at the time indicated that he wanted to return to New Jersey, but financially it made more sense to wait under the new stipulations of the league’s labor deal.

Wallace, 29, is averaging 15.5 points and 6.1 rebounds per contest through 10 games this year. Last year in 71 games he averaged 15.7 points and 8.0 rebounds between the Charlotte Bobcats and the Trail Blazers.