Join Date: Apr 2001
Location: Tucson, AZ
Casino cash: $6116
The NBA needs more guys like Gilbert Arenas
Former Arizona Wildcats who are among the best players in the league, who are very intelligent, have a good sense of humor and are easily accessable and just an all around good guy.
Don't Worry Wizards Fans, I'm Not Going Anywhere
Posted by Gilbert Arenas on June 14 2007, 5:14 p.m. ET
Opting Out is a Business Decision
What is hard for anybody else to understand besides people in the NBA industry to understand that, on my contract, itís basically the same thing that Ben Wallace did but without the trade and the same thing that Chauncey is doing.
The NBA allows a 12.5 percent increase on what you make. So for any player who is making the max, all they do is extend. They get the extension and get the 12.5 percent increase on what they already make.
Now, if you donít make the max money but you become a max player during the time frame of your original contract, you have to opt out to get the max money.
When I signed my original deal, I believed that I would become a max player so I had a playerís option. So, I make 11 and 12 million the next two years and then the extension would put me at 12.5, 13, 14 in the three years of the extension. The part that I got frustrated about the extension was that I have to play next year at that figure no matter what and then if I extend, all Iím getting is four years guaranteed. But, if I opt out after next year, Iíll have six years guaranteed because Iíll sign a whole new six year contract.
So at the end of the day, it will be a six-year deal instead of a four-year deal and instead of starting at 12.5 or 13 million, Iíll be starting at 14 or 15 million and Iíll be a max player.
This has nothing to do with me leaving or trying to look for other teams. I have to do it:
1. To get more years and
2. To increase my pay.
Itís the same thing Chauncey was doing. Chauncey was getting paid four to five million dollars in his contract, and if he extends heís only going to make 12.5 percent on that amount, which will put him at six million or so. But, if he opts out of that contract, he could possibly start at 10.
Itís a little loophole that they might fix in five years.
It was the same thing with Ben Wallace. Ben Wallace was like, ďWell, Iím only making three million and Iím worth max. Why am I going to extend? Thatís pointless. Instead of being increased to four million, I can go out and get paid 14 million.Ē
The extension only works with the players that are making max money already. Like if Antawn says, ďIím signing an extension,Ē you say, ďOK,Ē because he makes 17 million. So he goes 18, 19, 20 in his three years. If Antawn says, ďIím opting out to sign a new deal,Ē you say, ďYouíre crazy,Ē because heís already making 17 million.
If a max player opts out of his deal there are only two reasons he could be doing it:
1. Heís leaving
2. Heís trying to sign another six-year deal. He donít want three years. He wants another six. Meaning that thatís most likely going to be his last six.
Like Vince Carter, heís opting out because he wants to sign another six-year, max deal. He donít want to sign a three-year extension.
This becomes like football. You try to get the most years out of what you can do.
This is going to be the last thing I do. I know my history and I donít want to make the same mistake that Miami almost made about seven years ago with the Juwan Howard thing when Miami decided to sign Howard before they signed their own player, Alonzo.
If the league would have let them sign Howard to the $100 million contract he was going to sign, they wasnít going to be able to afford Alonzo. But if they would have signed Alonzo first and then signed Howard, they would have had them both.
My situation is flip-flopped.
I want to make sure that they get all the people they can get before I sign my deal because if I sign first and then eat up all the money, then we canít get anybody.
If I let them pick out who theyíre going to pick, like get the draftees and sign the free agents, the money will still be there.
Abe Pollin believed in me after Michael Jordan. He told me that I was the guy he wanted to build around after Jordan was gone. Iím a loyal player.
I donít have an agent. My counsel is myself. I just go through all the rules and read up on stuff. I just sit there and read stuff that happened in the past and why things didnít work out and why things are the way they are.