The Washington Times - July 3, 2008, 07:02PM

Wizards guard Gilbert Arenas has informed Wizards team president Ernie Grunfeld he will agree to a six-year deal worth $111 million, in his words, giving back roughly $16 million of the max, $127 million deal the team offered him Tuesday morning.

“This is in line with what I’ve been saying the whole time,” Arenas said Thursday evening in a telephone conversation from China. “You see players take max deals and they financially bind their teams. I don’t wanna be one of those players and three years down the road your team is strapped and can’t do anything about it.”


Arenas said Grunfeld is going over the numbers to figure out how exactly the money will be dispersed over the six years and then he will officially come to terms with the team Tuesday when free agents are permitted to sign with teams.

“It’s a relief,” Arenas said. “It was a burden at the same time. You’re whole city is depending on you, wondering if you’re going to make the right decision. I’m a franchise player and sometimes franchise players need to make franchise decisions.”

More coming later …