It's Official: Arenas Will Test Market
Gilbert Arenas said he opted out of the final year of his contract with the Washington Wizards by filing the necessary paperwork with the league office Friday. The move makes Arenas, who was scheduled to earn $12.8 million next season, an unrestricted free agent.
Teams will be able to negotiate with free agents July 1.
Wizards President Ernie Grunfeld has repeatedly stated that the team plans to re-sign Arenas and all-star forward Antawn Jamison, who will also be an unrestricted free agent.
Arenas has said that he will seek a maximum-level long-term contract, one that could cover up to six years and be worth more than $120 million. However, Arenas has also said that he would be willing to take less if it helps the team retain Jamison and make other moves to improve.
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Looks good for Atlanta if Gilbert doesn't return to Washington. I don't mind Washington getting thinner considering Miami should bounce back from a bad season.
