It was the day before July 4th weekend 2008. Arenas and the Wizards agreed on a contract. It was a six-year, $111 million deal. Here is what the deal looks like looked like from this year onward:
2012-13: $20,807,922 (Player Option)
Gilbert has been trying to give way this money the whole time. Gilbert could have received nearly $130 million if he had found another dancing partner and gone elsewhere. “I looked at like this: There is nothing I can do for my family with $127 million that I can’t do with $111 million,” Gilbert said.
What a nice guy trying to save the Wizards money. Now it looks like he is going to save them a whole lot more. The remainder of the contract will likely be void. Yesterday Arenas was officially charged with felony gun possession. Carrying a gun without a license can carry a maximum penalty of five years in prison.
I’m not saying that he won’t play again. But, I am saying he won’t get a contract that looks like that ever again — he probably should not have recieved it in the first place.
Although an unfortunate one, luckily there was only one casualty during all of this gun-play. That came with the death of Gilbert’s twitter account.
Arenas charged with felony gun possession [Fox Sports]