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Old 07-03-2008, 10:30 PM   #1 (permalink)
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Wizards Gilbert Arenas signed for $111 Million with the Wiz

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Quote:
Gilbert Arenas has agreed to take less money to remain a member of the Washington Wizards, but he still will be far above comfortable on the financial front, the Associated Press is reporting.

"What can I do for my family with $127 million that I can't do with $111 million?" he told The Washington Post.

Arenas told the Post and the Washington Times on Thursday that he has agreed to re-sign for $111 million over six years, considerably less than the maximum deal he said the Wizards offered him when the free agency period began on Tuesday.

"I'm basically giving back $16 million," Arenas said. "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."

Via ESPN
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