Arenas Signs New Deal With Wizards
Hooped Up | July 4, 2008
Gilbert Arenas agreed to a new contract with the Washington Wizards that pays him $111 million US over six years.
Arenas reportedly took less than first offered in order to give the club some flexibility to sign other players.
“[They] offered me the max, and I’m basically giving back $16 million,” Arenas said to the Washington Times from China where he’s doing a promotional tour for a shoe company.
“This is 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 want to be one of those players and three years down the road your team is strapped and can’t do anything about it.”
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