10:30 am: As we speculated below, the Nets did in fact increase Williams’ two-year deal to $12.5MM, confirms Michael Scotto of HoopsHype (Twitter link). The contract still features a second-year team option.
9:54 am: Over two months after their agreement was first reported, the Nets have officially finalized their deal with free agent swingman Ziaire Williams, the team confirmed today (Twitter link via Erik Slater of Clutch Points).
While the Nets didn’t provide any details on the contract besides referring to it as a “multiyear” arrangement, reporting on June 30 indicated that Williams would be signing a two-year, $12MM deal, with a second-year team option.
For what it’s worth, Nets big man Day’Ron Sharpe reportedly agreed to the same terms, and when he officially re-signed last week, the total value of his contract was bumped slightly from $12MM to $12.5MM. It’s possible Brooklyn will do the same for Williams.
A former No. 10 overall pick who was acquired from Memphis in a trade during the 2024 offseason, Williams averaged 10.0 points and 4.6 rebounds in 24.5 minutes per game across 63 outings (45 starts) for Brooklyn in 2024/25.
While his 34.1% three-point percentage wasn’t great for a wing, it was a noticeable step up from the 30.1% mark he posted in his first three NBA seasons, and he showed off impressive defensive versatility, even handling center duties in a pinch. The former Stanford standout came at No. 43 on our list of this summer’s top 50 free agents.
Assuming Williams’ first-year salary comes in around $6MM, Brooklyn will still have just over $16MM in cap space available after officially re-signing Williams, Sharpe, and Cam Thomas. The team, which will also have the $8.8MM room exception at its disposal once it uses up its room, could increase its cap space by waiving one or more players who have non-guaranteed salaries.
It’s also worth noting that a player who re-signs with his previous team on a one-year contract or a two-year deal that includes a second-year team option typically has the right to veto a trade during the following season. However, a player can agree to give up that right as part of the contract negotiation. I expect the Nets asked Williams to waive his trade veto rights, but we don’t have confirmation on that yet.