Gilbert Arenas agreed on a 111 million dollar contract earlier today with the Washington Wizards over six years. What's even more impressive about it is that "Agent Zero" refused a maxed out deal offered to him on Tuesday, he explained it with the following statement to the Washington Times:
What can I do for my family with $127 million that I can't do with $111 million?I'm basically giving back $16 million. 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.
You heard that Sprewell?
By the way Arenas negotiated his contract without any agents, every NBA player should definitely be like this guy.
Chris Paul also got a 3 year contract extension, he's getting 68 million.
In other news, The city of Seattle and the SuperSonics finally settled their lease issues. Both parties agreed on letting the team move to Oklahoma City, where the team would have to change name and logo. Seattle would get up to 75 million and could get more money if a new team doesn't move in in for the 2009-10 season, before that the state legislature has to approve a public funding of the renovation of the Key Arena building estimated at 300 million dollars, most of it paid by private investors.
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