Gilbert Arenas said Sunday that he plans on opting out of his contract after this season. He said the Wizards are his top option but he is willing to go elsewhere.

"I want a new contract for the longevity of it and get another six years at the end of this deal," said Arenas, who is making $11.9 million this season. "I don't know what's going to happen. I could have signed an extension this year, but it wasn't going to make sense for me. If my own team doesn't take me, I'll go somewhere for a lot less to win a championship."

Arenas said his contract situation wouldn't deter him from returning this season, but he said he won't play until he's 100 percent.