After Globetrotting, Arenas Signs Deal

Wizard Spent 3 Weeks in Asia, Europe

It's been a good few weeks for Gilbert Arenas. First, the three-time all-star toured Asia and Europe as part of a promotional tour for Adidas and the NBA. Then, he returned to Washington on Saturday and signed a six-year, $111 million contract that all but ensures that he will spend his prime basketball seasons in a Washington Wizards uniform.

Arenas, 26, and the Wizards agreed to contract terms on July 3 but because of the league's one-week moratorium on free agent signings and because Arenas was out of the country, he could not sign until Saturday.

The Wizards offered Arenas a deal that would have paid him between $125 million and $127 million, the maximum allowable under terms of the NBA's collective bargaining agreement, but Arenas took less, he said, in order to give the team financial flexibility. Team president Ernie Grunfeld will attempt to surround Arenas and all-stars Antawn Jamison and Caron Butler with pieces that will help the team contend for a championship.

Grunfeld repeatedly stated that his goal for the summer was to retain Arenas and Jamison and he wasted little time once free agency opened. Before Jamison could hit the open market, Grunfeld signed the veteran forward to a five-year, $50 million deal.

Then, shortly after Arenas hit the open market on July 1, Grunfeld offered him the maximum. Arenas didn't immediately make a decision but was persuaded by a phone conversation he had with owner Abe Pollin and accepted contract terms after arriving in China on July 3.

Arenas will earn around $14.5 million next season and can opt out of the contract after the fourth season (2011-12). The Wizards, who signed point guard Dee Brown to a partially guaranteed two-year contract this week, have around $1.5 million remaining under the luxury tax threshold ($71.15 million) and could add another player via free agency.

The Wizards have 14 players under contract. Teams can carry a maximum of 15 into the regular season.

"Today is a great day for the Wizards organization," Grunfeld said in a statement. "Gilbert is a phenomenal player and his value to the franchise goes beyond what he brings to the court. We're proud and excited that we were able to take care of our own free agents and open the 2008-2009 season with a healthy core intact."

Now that Arenas and Jamison are re-signed, the organization will turn its attention to the Las Vegas summer league, which opens for the Wizards tonight.

The team released former George Mason forward Will Thomas, forward Mike Peeples and forward Vytas Danelius over the weekend and will have 12 players for the five-game summer league. Grunfeld said the focus will be on developing the team's talented young players.

The roster includes rookie first-round pick JaVale McGee, fourth-year forward Andray Blatche, 2006 second-round pick Vladimir Veremeenko and last season's rookie trio of Nick Young, Oleksiy Pecherov and Dominic McGuire.

To prepare himself for his second NBA season, Young trained with former Washington Bullet Don MacLean this summer and he reported to Friday's practice looking lean and hungry.

"I'm not a rookie anymore," said Young, who last season showed flashes of scoring ability but struggled defensively and still has to learn the nuances of Coach Eddie Jordan's system. "It's time for all of us young guys to improve our games and prove that we can help this team win. None of us are happy with how the season ended."

Young, who averaged 7.5 points on 43.9 percent shooting in 15.4 minutes as rookie, will likely see an increased role next season because guard Roger Mason Jr. signed with the San Antonio Spurs as free agent.

The roster includes Brown and free agents such as former Georgetown star Jonathan Wallace, who went undrafted but is hoping to show the Wizards or another NBA team that he's worthy of an invitation to training camp.

Wizards Notes: Four of Washington's five summer league games will be televised. Tonight's game against Portland, which tips off at 8, will be carried by NBA TV and Comcast SportsNet. . . .

As expected, assistant coaches Mike O'Koren, Phil Hubbard and Wes Unseld Jr. signed one-year contracts over the weekend. Unseld will coach the summer league squad. Assistants Randy Ayers and Dave Hopla, who signed two-year contracts last summer, will remain on Jordan's staff.