Blazers wait, weigh their options

Trail Blazers forward Rasheed Wallace has yet to decide whether to accept a contract extension proposal from the team believed to be between $35 million and $40 million for four years, a source told ESPN's David Aldridge on Saturday.

Blazers senior management is expected to meet this week to decide whether to continue attempts to sign Wallace or go forward with trade discussions with several teams, including Golden State and New York.

The Blazers could also opt to do nothing with Wallace and allow him to leave this summer via free agency; the motivation would be that by allowing the salaries of several players, including Wallace, to lapse from their team salary, owner Paul Allen would pay a much lower luxury tax than is currently projected.

An NBA source says that the Knicks would be willing to trade any of their players other than Stephon Marbury, Allan Houston or Keith Van Horn for Wallace. However, the Knicks believe they may be able to acquire Wallace this summer with the midlevel salary-cap exception and, thus, wouldn't have to trade any of their players to Portland -- most notably forward Kurt Thomas.

The NBA trade deadline is Feb. 19.