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Reports: Arenas agrees to $111M deal to stay with Wizards

WASHINGTON (AP) -- Gilbert Arenas has agreed to re-sign with the Washington Wizards for $111 million over six years, essentially taking millions less so that his team could have more financial flexibility, two newspapers reported Thursday.

Arenas told the Washington Times and Washington Post that he was offered a maximum deal in the neighborhood of $127 million on Tuesday, the first day of the free agency period.

"[The Wizards] offered me the max, and I'm basically giving back $16 million," Arenas told the Washington Times from China, where he is traveling as part of a promotional tour for a shoe company. "This is in line with what I've been saying the whole time. You see players take max deals and they financially bind their teams. I don't wanna be one of those players and three years down the road your team is strapped and can't do anything about it."

The three-time All-Star became a free agent after opting out of the final year of his six-year, $65 million contract. He initially said he was opting out to receive a max contract, but he later indicated he would be flexible in negotiations.

Arenas also said that he would not re-sign unless the team retained two-time All-Star forward Antawn Jamison. The Wizards lived up to that part of the bargain Monday by giving Jamison a four-year, $50 million deal.

Arenas has proven to be one of the most dynamic players in the league when healthy, but two knee operations caused him to miss most of the last season. He has averaged 22.8 points, 5.5 assists and 4.2 rebounds in his seven-season NBA career.

The Wizards cannot comment on talks with Arenas or announce the deal until a league-mandated moratorium expires next week.

"It's a relief," Arenas told the Washington Times. "It was a burden at the same time. Your whole city is depending on you, wondering if you're going to make the right decision. I'm a franchise player and sometimes franchise players need to make franchise decisions."

Source

I think Gilbert has a lot of heart, but it is becoming more suggestive that his injuries will perhaps forbid him from becoming the player he had the potential to be. I could be wrong, but there are indications that that assessment may indeed be the case.

[HammerFist]

Thats a shitload of cash he should hook me up 5gs the queer, i heard Lebron is considering moving to the Knicks or the Jay z owned Nets.
There a shitload of top players as free agents this season coming up, should be interesting next few months.

[RENCE118]

i live in DC and im a HUGE Wizards fan but i dont like this move at all,,dont get me wrong Gil is a awesome player,BEFORE the two knee injuries,,when he comes back i just dont see him being as explosive,,i swear everytime he drives to the hoop ill be holding my friggin breath

the Wiz proved that they can win ,,and make the playoffs without Gil,, if i were GM i would have tried to do a sign and trade deal and try and get a physical frontcourt player,,,thats what they need someone to get down and dirty in the paint the Wiz have plenty of guards Nick Young showed flashes of brilliance when he got the PT and Roger Mason Jr had a hell of a yr as well,,hopefully it will all work out though