Washington Post reports Arenas agrees to accept less

Ivan Carter reported on the Wizards Insider that Gil has agreed to accept in the neighborhood of $111 M over 6 years, which is approximately $16 M less than what the Wizards had offered. Assuming this plays out as reported, this is a great move for Gil Arenas and the team. The Wizards were able to lock up Gilbert for six years at a reasonable figure, and create some space for them to sign a player or two, now. I have to admit that I am a fan of Roger Mason, Jr. and would like to see him re-sign with the Wizards, but the team’s most pressing needs are for a back up big man, and a veteran small forward who can take some load off of Caron Butler. After his play in the playoffs, James Posey appears to be a perfect player to target, but half the league is also currently targeting Posey.

In a previous post, I pointed out some potential inexpensive big men. Hopefully, by Gil accepting less it will allow the Wizards to sign a bargain center and possibly spend at or around the mid-level exception on a small forward. Once the dust settles on this agreement, we will be able to see exactly how much money the Wiz can spend on free agents, and which direction they go.

P.S. I wonder if Gil feels even better that he did not have to pay an agent 10% to negotiate his deal with the Wizards? In hindsight, given what he said about staying with the team, it doesn’t seem like he would have needed an agent for this transaction. I am sure he paid some legal fees for his attorney to review the language, but it would appear that his decision saved him approximately $11 M.

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