“What can I do for my family with $127 million that I can’t do with $111 million?” Such words of humility make Washington proud that “Agent Zero” has returned, as he turns down an extra $16 million dollars from his original proposed maximum deal of $127 million for 6 years as a Wizard. This amount was offered to him by the team as soon as the free agency began.

All the way from the great nation of China, as he promotes on tour with a shoe company, his deal was negotiated. And remember, he had no agent.

He claims to not intend to put his whole team and management in financial stress simply ecause of just his deal alone.

Arenas had a previous deal of $65 million for 6 years and intended to accept the maximum offered deal, but eventually became flexible in negotiations.

Expensive Arenas
Since the NBA’s current collective bargaining agreement was put in place in 1999, only five players have signed larger total contracts than Gilbert Arenas (six years, $111 million) agreed to on Thursday night. Here’s a look:

The Largest Total Contracts in the NBA Since 1999 are as follows

Kobe Bryant in 2004 for $136.4million
Jermaine O’Neal in 2003 for $126.6million
Rashard Lewis in 2007 for $126million
Chris Webber in 2001 for $122.7million
Tim Duncan in 2003 for $122million

The Wizards kept Antawn Jamison for a new $50 million, 5 year deal as Arenas requested.

A major knee injury and a rush in recovery led Arenas to miss 66 games before returning late in the season, but he had to shut himself down again during the first-round playoff series against Cleveland. Arenas has vowed to be more cautious about his rehab this time, and the state of his knee didn’t appear to devalue his worth in talks with the Wizards.

The Wizards cannot comment on talks with Arenas or announce the deal until a league-mandated moratorium expires next week.

Arenas has averaged 22.8 points, 5.5 assists and 4.2 rebounds in his seven-season NBA career. He has grown since he came to Washington from Golden State in 2003, but he began to display more maturity as he developed into a take-over-the-game player with a knack for hitting buzzer-beating shots. Although he still has his many quirks — yelling “Hibachi!” after making a big shot is just one of many — he has helped the Wizards became a playoff regular.

Arenas’ deal means the Wizards will have room to sign other players — including free agent guard Roger Mason — and still remain under the league’s luxury tax.

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