Price Could Make the Bullets Right : Pro basketball: Top rookie Wallace signs but the deal for veteran point guard on the same day could be more crucial to Washington’s immediate success.

The Washington Bullets wanted it to be Rasheed Wallace’s day Wednesday, a chance to introduce their highest draft choice in 18 years, to sign him to a three-year, $6.18 million contract and to talk some more about how he fits onto an already imposing front line with Chris Webber and Juwan Howard.

And then along came Mark Price.

Just as he had less than a year ago when Webber and Howard joined the Bullets on the same day, General Manager John Nash again showed a knack for drama by announcing that Wallace had signed his contract and that the team finally had ended a long search for a point guard by acquiring the veteran Price, a four-time all-star, from the Cleveland Cavaliers for Washington’s 1996 first-round draft choice.

In the past 10 days, Nash had bid for a pair of free agents--Dana Barros and Elliot Perry--and discussed trades with Atlanta, Portland, Golden State and others in his search for someone to run the Bullets’ offense. In a perfect world, he wanted experience, someone who has won and was a clutch performer, particularly one capable of knocking down three-pointers.

Price, 31, seems to be the perfect fit, and on top of everything else, he could be joining his younger brother, Brent, who has spent the past three seasons with the Bullets and has been offered a contract for the 1995-96 season. Brent Price missed all of last season after tearing up a knee in summer league play, but has recovered.

However, it’s unclear if Nash will get the NBA’s permission to re-sign Price after releasing him near the end of last season in a roster shuffle just before the expansion draft. The league has rejected Nash’s request to sign Brent Price, but Wednesday Nash still seemed confident he could pull the deal off and bring him to camp to compete with Doug Overton for a backup spot.

“The league was concerned that the expansion teams get the first crack at Brent,” Nash said. “They’ve had that chance. We don’t have permission to sign Brent yet, but I’ve offered him a guaranteed contract. He’s in a minicamp with Boston this week. We’d still like to have him.”

Nash began this compressed off-season with three objectives, and in one day, he got two of them done. The top priority remains the re-signing of Webber, a restricted free agent, and both sides seem cautiously confident of reaching a deal before the Oct. 6 start of training camp. Everything else seems to be in place.

“He’s one of the top point guards in the league,” Bullet Coach Jim Lynam said. “In terms of our team and our needs, he gives us the perimeter shooting we’ve needed. He gives us experience. He gives us the ability to knock down big shots in clutch time. He beat us twice last season-without question. He flat out won two games.”

Nash began discussing a deal for Price a week ago. Just as he learned that he had lost Barros to the Boston Celtics, he received a telephone call from Cavalier General Manager Wayne Embry, who said he might be willing to swap Price for a future first-round choice. Even after surrendering three first-rounders for Webber, Nash still has his No. 1’s in 1996 and 1997, and he was more than willing to swap one for Price.

“We didn’t know if he could make the deal,” Nash said, “but we had a chance.”

Nash felt confident enough that he seemingly made only a modest effort to sign Perry. He then offered Don MacLean and the 1996 No. 1 to Portland and Atlanta for Rod Strickland and Mookie Blaylock, respectively. In both cases, he was told that he’d have to surrender one of his five top players--Webber, Howard, Wallace, Calbert Cheaney or Gheorghe Muresan.

Nash said he first wanted to explore what trades he could made without surrendering one of those five, and that’s when he found out Embry was serious about trading Price.

“The only thing I feel badly about is that this is Rasheed’s day,” Nash said. “This is a big day in the history of the Bullets, primarily because of Rasheed Wallace. The timing is unfortunate, but we’re happy to have gotten both things done. Our number one mission--and it has been our number one mission for six months--is to re-sign Chris Webber. We’ll continue working at that.”

Wallace seemed happy enough about the turn of events. His mother, Jackie, attended the news conference and assisted Nash in announcing the Price trade by stepping to the microphone and asking: “Who is going to get my son the ball?”

Nash smiled and answered: “I’m glad you asked that question.”

“Our goal is to make the playoffs and Mark Price helps make it that much more reachable,” said Wallace, who has added 15 pounds--from 233 to 248--to his 6-foot-10 frame this summer. “We don’t want people to see the Bullets as just another garbage team on their schedule. We want to be considered among the best.

“We’ve got a lot of good young players, and over the next three years, hopefully we can get the Bullets back to the playoffs and then a little more. I want to fit in with the guys who are here. I’ve known Chris and Juwan personally, and I know they’re good players who want to win. They don’t allow any bull on the floor and I think I’m the same way.”

The only question about Price is health. He’ll turn 32 next February and had reconstructive surgery on his left knee 4 1/2 years ago.

If Nash seemed something less than absolutely elated, it might be because so much is riding on the acquisition of Price, like his job security. It might also be because last November when Webber and Howard arrived, he also thought the rebuilding days were over.

“I’m thrilled, but I’ve learned not to crow until you have something to crow about,” Nash said. “We had some best-laid plans last season as well and we couldn’t have been happier on the day we acquired Chris and Juwan. But we think we’ve taken a major step forward. Now, let’s go win some games and we’ll talk about it.”