The Bullets and guard Ledell Eackles are $800,000 apart in their contract negotiations. Agent Eddie Sapir rejected a two-year deal from Washington Monday, and said yesterday Eackles either will wait for an opening in a European league or re-sign with the Bullets before the team's qualifying offer expires Feb. 1.

Sapir said he attached "rock-bottom figures" for the two-year deal, comparable to those of Charlotte's Muggsy Bogues, who makes a $900,000 base salary, and Denver's Michael Adams. But the sides are $300,000 apart in the first year of the deal and $500,000 in the second. When negotiations began in July, they were more than $5 million apart.

Sapir said he was "astounded by how they agreed to disagree. I wasn't looking for them to counter, I was looking to do a deal. I thought, 'Fellas, I can't believe you didn't do that deal.' This deal should be done. I think Mr. {Abe} Pollin and John Nash are classy people. It's a business decision and that's what they based it on." . . .

General Manager Nash said he wasn't interested in guard Derek Smith, let go by Philadelphia to make room for rookie Jayson Williams. Smith had been one of the league's better scorers until knee problems limited his play the last two seasons.

"Philly's feeling is he may never be ready," Nash said. "They're saying now that he's three weeks to a month away, but until he comes back, it's all speculation. They say there's swelling on that knee."