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From the blog....

....Blazers GM John Nash rebuffed reports that the team has offered Rasheed Wallace a four-year contract extension.

Nash told Sports Radio 910 The Fan on Sunday there has been no contract extension offer to Wallace, contrary to reports on ESPN over the weekend, and said it's possible Wallace's agent, Bill Strickland, floated the rumor to enhance Wallace's value.
 

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Of course it was leaked by Rasheed's agent to enhance his value. That much was obvious from the start.

I'm not sure what exactly Nash is trying to do here. Can anyone tell? Remember that in situations like this everything you read in the media has been planted there by Rasheed and his agent, or Nash, or another team that wants Sheed. They are all using the media as a tool to advance their objectives. So what are Nash's objectives here? Is he trying to make other teams think he's keen to let Sheed walk? If other teams think Portland will let Sheed walk, does that make it more likely, or less likely that he will be traded in the next week? I don't see the point of this announcement.
 

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I thought that I heard on 910 the Fan that there was a contract extention offered to Rasheed, but it was only for a sign&trade purpose. Rasheed said no to the offer and I do not believe that Nash has offered him anything as far as a contract that would keep Rasheed a Blazer, yet.

The media twists the true to make things sound different then what they really are. This is just a mis reported news story from an offer that would have made Rasheed a Maverick for four years.
 

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another tidbit

By losing Wallace, the Blazers would also lose one of the most beloved players by his teammates and coaches.
Nash is still fighting with what to do. But no matter what, he promises "we are not going to do a fire sale for any player." Nash added that "it's difficult to trade Rasheed" now.

"You weigh the pros and cons of trade with anyone on the roster no more than any other player," Nash said. "There are advantages and disadvantages to every player. You try to balance what you do with what you can get in return. We passed on a lot of opportunities."
LINK
 
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