Gilbert Arenas to Opt Out of Contract After Next Season, to Become Free Agent

Washington Wizards guard Gilbert Arenas is reportedly set to opt out of his contract after next season and enter the free agent market.

Arenas averaged 28.4 points per game while pulling down 4.6 rebounds and dishing out 6.0 assists. The 25-year-old led the Wizards to the NBA playoffs but a late season knee injury caused him to miss the postseason and Washington was bounced by the Cleveland Cavaliers in the first round.

In 2003 Arenas signed a six-year deal with the Wizards that paid him $65 million.

While Arenas is set to become a free agent that doesn’t mean he won’t still sign a long term deal with the Wizards. About the decision to opt out of his contract after next season Arenas said “It's just business. If something happens where they don't want me or they're going in a different direction, I can look elsewhere. But my intentions are not to leave.”

Washington would be able to sign Arenas to another six year deal ranging between $90 and $100 million while other teams would only be able to offer him a five year deal.

Arenas has said his decision was based on family and business, “To me, it's just a smarter business decision to play next season, opt out and then be able to sign a long-term deal that is going to keep me in one place.”

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