[Phreezy P]

So I am guessing your new to this whole basketball "universe" thing.

Re-sign: When one's contract is about to end (I think if they have a team option on their contract?) they can come to terms with an agreement to stay with their team unless traded or waived(which is sorta stupid because why would someone resign someone if theyll just release them anyway?)

Will: To wish; desire

So to put it together, The player desires to make a new contract with their current team before their contract ends(In final year).