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Ray Allen, Steve Nash Trade And Other NBA Rumors

Now that the NBA free agent period has begun, rumors are flying like three-pointers about player movements. Some of the latest:

The Brooklyn Nets are trying to acquire Atlanta Hawks guard Joe Johnson in a multi-player deal that would send several expiring contracts to Atlanta. But sources told ESPN.com that the Nets fear that they’ll be surrendering too much financial flexibility in the trade as currently structured, which has placed the deal in jeopardy.

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The Portland Trail Blazers offered Indiana Pacers restricted free agent center Roy Hibbert a four-year, $58 million contract, the maximum allowable under the collective bargaining agreement.

According to SI.com, the Pacers did not offer Hibbert the maximum and the 25-year-old all-star is leaning toward signing the Blazers’ offer sheet.

If Hibbert signs with Portland, the Pacers would have three days to match the offer and retain their 7-foot-2, 260-pound center under the current CBA.

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Boston’s Ray Allen is a wanted man. Not only do the Celtics want to retain the free-agent sharpshooter, but he is high on the Miami Heat’s list as well as that of Atlanta, Memphis, Dallas and the Los Angeles Clippers.

The Grizzlies have offered Allen. 36, their full mid-level exception, worth $5 million, for two years. Miami can only offer Allen its mini-mid-level exception worth $3 million. The Celtics, who have cap space, are ready to give Allen a two-year, $12 million contract, according to sources.

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Phoenix Suns guard Steve Nash has been offered a a three-year, $36 million contract by the Toronto Raptors, according to sources.

Nash, a two-time NBA MVP, has made it a point in recent interviews to stress that he’s “open to everything” and says he’ll listen to any team that calls.

Those interested in Nash include Phoenix, Dallas, New York and the Brooklyn Nets, who would either use Nash to replace Deron Williams if he goes to Dallas or to play alongside Williams.

The Nets came to an agreement with forward Gerald Wallace for a 10-year, $40-million extension.

No new contracts in the NBA can be officially signed until July 11, but sources told ESPN.com that Wallace — originally expected to land a three-year deal worth $24 million — will instead take the four-year deal. Wallace opted out of the $9.5 million he was originally scheduled to earn in 2012-13 on June 15 to proceed to free agency.

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