Wizards and Arenas agree on 6 year 111 million deal

[Wizards2Lottery]

http://www.washingtontimes.com/weblogs/ ... rees-deal/

Wizards guard Gilbert Arenas has informed Wizards team president Ernie Grunfeld he will agree to a six-year deal worth $111 million, in his words, giving back roughly $16 million of the max, $127 million deal the team offered him Tuesday morning.

"This is in line with what I've been saying the whole time," Arenas said Thursday evening in a telephone conversation from China. "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."

Arenas said Grunfeld is going over the numbers to figure out how exactly the money will be dispersed over the six years and then he will officially come to terms with the team Tuesday when free agents are permitted to sign with teams.

"It's a relief," Arenas said. "It was a burden at the same time. You're 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."

More coming later ...

[vonplyr]

and what superstar are they gonna sign with that $2mill/year that he supposedly gave up for the sake of the team? spin job. gimme a break.

[Wizards2Lottery]

and what superstar are they gonna sign with that $2mill/year that he supposedly gave up for the sake of the team? spin job. gimme a break.

Rumor right now but the Wizards are interested in James Posey and our owner is willing to go over the luxary tax. He's old and battling health problems and wants to see a winner before he dies.

[dvdrdiscs]

I guess my definition of a paycut is a lot different than what these superstars are suggesting (KG and now Arenas). In this day and age, it's pretty difficult to sign a FA who can make a championship run impact for less than a "measly" 5+ mil/year.

Unless the contract is spaced out where he gets a larger pay day towards the back end, I don't see how this really helps his team at all. Maybe sign a few new ball boys?

[SA37]

"This is in line with what I've been saying the whole time," Arenas said Thursday evening in a telephone conversation from China. "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."

Uh. What?

Anyway, this is way too much money for Arenas. I think the Wizards are making a mistake giving him this kind of money.

[Ballings7]

Definitely overpaid.

[CITYOFANGELSX3]

He'll turn into marbury in a couple of years just more injury prone

[miller31time]

Gilbert was offered a 6yr/127mil max contract from the Wizards and a /5yr100mil max contact from the Warriors. He could have taken the Warriors deal and gotten paid like a max player but he didn't. He could have accepted Washington's initial offer that would have payed him max money while completely crippling our franchise, but he didn't. He gave up 16+ million dollars to help his squad.

You all may feel like 6yrs/111mil is too much, and you could be right. But it's certainly not as bad as the initial offer on the table.

Looking at this objectively, I see a top-15 player in this league being payed accordingly. If you don't feel like he's that good, fine. But I think a majority of people would consider him as such.

Last thing I'll say is that when a player misses a significant amount of time, people seem to forget just how good he was and just how good he will be once he comes back. Look at Dwyane Wade, for example. In his last healthy season, I don't think there was a poster on RealGM (besides the blind haters) who didn't consider him a top-5 player. Fast-forward to today and I don't see Wade's name a-n-y-w-h-e-r-e near people's top-5 lists.

Arenas is a 30/6/5/2 player who spear-heads the most effective and efficient offensive team in the Eastern Conference. His defense is sub-par, but not worse than Antonio Daniels (the Wizards' replacement starter), and with the potential to become an average to above-average defensive player.

Also, keep in mind the guy just turned 26. He hasn't even touched his peak.

I would have liked him to get around 90-100mil for 6 years, but the market is what it is, the offers on the table are what they are, and with all things considered, this is a move that had to be done, or we lose Arenas for absolutely nothing. Squat. Zilch.

[ponder276]

Massive, massive mistake by the Wizards. Gil puts up big numbers (when healthy), but he doesn't help them win - the Wiz are just as good with Arenas out of the lineup as with him in the lineup. Should have offered him ~80 mil over 6 years, and if he didn't want it, let him walk.

[miller31time]

Massive, massive mistake by the Wizards. Gil puts up big numbers (when healthy), but he doesn't help them win - the Wiz are just as good with Arenas out of the lineup as with him in the lineup. Should have offered him ~80 mil over 6 years, and if he didn't want it, let him walk.

Tell me how we're better without him using statistics to justify your position. I'd love to see it.

(Hint: We went from being the #1 offensive team in the East, and 5th in the league ((2nd in the league before Arenas and Butler missed the last month of the season)) to being the 11th best offensive team this year. Our defense improved just slightly and that had absolutely nothing to do with Arenas or his absence. Gilbert Arenas is actually a better defender than Antonio Daniels -- his starting lineup replacement. The minuscule defensive improvement was due to our best defender and a top-5 post defender in the NBA, Brendan Haywood, getting more playing time, along with the acquisition of defensive specialist assistant coach, Randy Ayers. Our defense only yielded 1.3 less points per game this year compared to last.)

[carrottop12]

I don't like the deal because I think Arenas is a cancer.

But I guess if the people in Washington are happy it's probably a good thing.

Just glad he didn't come to the West.

[Serpo]

I don't think they should have kept their core together . Your making the same mistake the Nets did with holding onto something too long that wasn't good enough to be a champion.

[celticfan42487]

hmn, quick calculation. 16/6... about 2.5 per year less then max... That's about a market value. And he could of easiely pushed it to 20 per year. Now it's like 17.5 per year.

I gained a small amount of respect for Areneas.

If he can prove that he's a competent leader and not some nut job I may even like him. His game is one of the funest in the league.

And as for James Posey he'll go to a contender. Lakers,DET,BOS I suppose. In LA he'd have a starting job. WAS can't offer more then the other contenders and with Bulter there isn't really a vacant starting SF position. But at least, and I assume Areneas will not be injury prone.. he's built like Pierce, Areneas didn't job the franchise for the MAX.

Good signing.

[kookie_819]

Good to see that the Wizards resigned Arenas. It should be a good competition in the Southeast Division (although I still see the Magic win again )

[kdot99]

Some hometown discount.

[milkii]

damn, that's alot of money.

[GreenWithEnvy]

he makes no sense. this is handcuffing ur team! for 6 years at nearly 19 per. ridiculous!

[Flash3]

^he's one of the better players in the league, do you expect him to get the MLE or something? lol

[Entengtot]

Arenas is still young and can still reach a higher ceiling. How he recoups from the knee injury is something to watch out for.

arenas-young-butler-jamison-haywood can do damages out east. the problem is they dont have much depth and a post up threat, though the princeton offense compensates for the lack of the said post offense.

[Flash3]

^their lack of defense doesn't make up the 100 points they give up every night, even if they score a 100 with their offense.