Gilbert Arenas, who until late last night was still a Golden State Warrior, officially became a Washington Wizard this morning.
Arenas, a 6-foot-3, 190-pound guard, can officially lay claim to his six-year, $64 million deal with the Wizards, making him the highest-paid Wizard -- with a first-year salary of $8.5 million.
"We're very excited about getting Gilbert officially signed," said Ernie Grunfeld, the Wizards' president of basketball operations.
The 21-year-old restricted free agent signed an offer sheet with the Wizards July 23, but had to wait the mandatory 15 days for the Warriors to match the offer. Once the 15 days passed, his offer sheet became a binding contract.
The deadline was midnight Thursday, and Golden State made it clear from the beginning that Arenas would head to Washington.
The Warriors could have re-signed Arenas only if they had dumped $20 million in salary, which would have meant releasing several players and getting nothing in return.
Instead, the Warriors signed free agent point guard Speedy Claxton. Now Arenas comes to Washington, giving the Wizards a new star and a threat to fill either guard slot.