Arenas inks multi-million dollar extension with Wizards
WASHINGTON (AFP) — Washington Wizards guard Gilbert Arenas agreed to a six-year, 111 million dollar contract on Thursday, according to the Washington Times.
The deal, which will keep the star guard with the Wizards until 2014, cannot become official until a league moratorium concludes July 9.
Arenas opted out of the final year of his contract earlier this offseason and was offered a six-year, 127 million dollar deal Tuesday - the first day of free agency.
According to the Times, Arenas took less money because he did not want to be a burden on the team's salary cap.
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