How are you doing? (the Jay-Z reference was necessary, since well, he is part owner).
The Nets have only 5 people under contract for this season: Jordan Farmar, Anthony Morrow, Johan Petro, MarShon Brooks, and Jordan Williams. They made a qualifying offer to Brook "7 Footer Who Can't Rebound" Lopez. Their payroll is only at $18 million so they have about $52 million for this year before they need to pay the luxury tax. They will most likely enter the luxury tax area because, well, the Nets are owned by Jay-Z (rich guy, you may have heard of him) and Mikhail Prokhorov (scary Russian billionaire).
So basically, they need to sign: a team.
They're most likely getting the Deron Williams/Jason Kidd package deal (Kidd said that he'll back up Deron whether it be in Dallas or Brooklyn) to fix their point guard situation.
MarShon is a developing scorer, but a good scorer. Rumors say that the Nets are trying to acquire Joe Johnson, which is pointless because they need Brooks to develop. They're not going to win anything until they get Dwight Howard anyway, so being terrible in this next season won't be an issue. They are also making a run at Eric Gordon, who is a future All-Star.
They re-signed Gerald Wallace at $10 million a year because Billy King is crazy. His game is built on athleticism, which doesn't work at the age of 35 (his age at the end of the 4 year deal).
At the PF slot, they need to re-sign the walking double-double Kris Kardashian I Mean Humphries. He's a key to any team's lineup.
Deal with Petro. They'll get Dwight.
I don't know what to expect from them because they have so much available money, that they can literally do anything. Considering that Billy King is a terrible GM, they'll find a way to mess it up.