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Golden State declines to match Washington’s offer sheet

Washington Wizards President of Basketball Operations Ernie Grunfeld announced today that free agent guard Gilbert Arenas is now a member of the Washington Wizards. Per team policy terms of the deal were not disclosed. An InsideHoops.com source says it's for 6 years, $65 million.

“Gilbert is an outstanding young point guard and we feel fortunate to add a player of his caliber to our roster,” Grunfeld said. “He was one of the marquis free agents this off season, and we’re pleased to make him a part of a very exciting future here in Washington. Gilbert has proven that he can excel at this level and we are confident that he will fit in very well with Eddie Jordan’s exciting style of basketball.”

Washington originally signed Arenas to an offer sheet on July 22. The Golden State Warriors had 15 days to match the offer under NBA rules for restricted free agents but declined to do so.

Arenas was named the NBA’s Most Improved Player last season after averaging 18.3 points and 6.3 assists per game for Golden State. He started all 82 games and joined Kobe Bryant, Jason Kidd, Tracy McGrady, Kevin Garnett, Steve Francis, Jamal Mashburn and Ricky Davis as the only players to average at least 18.0 points, 4.5 rebounds and 5.5 assists per game.

Arenas was originally drafted by Golden State with the second selection in the second round (31st overall) in the 2001 NBA Draft after leaving the University of Arizona following his sophomore season. The 21-year old Arenas has played in 129 career games during his two-year career and has career averages of 15.6 points and 6.3 assists per game.