Gilbert Arenas has opted out of his last season on his current contact thus becoming a free agent. It will be interesting to see if the Wizards want to tie him up to a long term contract or if they are leery of his knee and let him walk. Arenas only played in 13 games (8 starts) last season for the Wizards and he averaged 32.7 minutes, 19.4 points, 3.9 rebounds, 5.1 assists and 1.8 steals per game. His shooting was also off from everywhere on the court as he shot 39.8% from the floor, 28.2% from three point range and 77.1% from the free throw line. The Wizards will have to predict if Arenas will be healthy in the near future and if his injury was the reason that his shooting suffered. Arenas has now played in 431 games (405 starts) in his NBA career and he has averaged 37.4 minutes, 22.8 points, 4.2 rebounds, 5.5 assists and 1.8 steals per game. He has shot 42.7% from the floor, 35.8% from three point range and 80.9% from the free throw line in his NBA career. It would be a shame to see Agent Zero leave town but it might be too risky to re-sign him because of his knee.

UPDATE: Last night Gilbert Arenas re-signed with the Wizards for 6 years and $111 million bucks. The Wizards offered him the max of $127 million but Arenas signed for $111 million so that the Wizards could be more flexible with the salary cap.