Thursday , Jul , 03 , 2008 C.Y. Ellis

Gilbert Arenas Agrees to $111 Million Contract

Gilbert Arenas Agrees to $111 Million ContractGilbert Arenas is accepting less money from the Washington Wizards, invoking an attitude far, far removed from the world of his working-class fans.

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

The unpredictable three-time All-Star point guard, in vintage Agent Zero fashion, 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.

Arenas negotiated the deal from China, where is traveling as part of promotional tour for a shoe company, and did so without an agent.