The belief all offseason had been that Bradley Beal was leaning toward turning down the three-year max contract extension the Washington Wizards offered him, but the two sides have found some middle ground. The deal guarantees the 26-year-old $130 million over four years.
With the two-year extension, Beal will still have the option of hitting free agency around his 30th birthday.
Adrian Wojnarowski of ESPN, who broke the news, noted that if Beal opts out of the final year of his deal, he will be eligible for the biggest contract in National Basketball Association history (assuming the NBA's salary cap projections are accurate): Five years, $266 million.
The St. Louis native also could have taken another two years to see what the Wizards put together but deciding if he wanted to remain with the organization, but they sold him in just six months to extend his residence in D.C. for at least an extra season.
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The Wizards, who fired team president and general manager Ernie Grunfeld last April and the move by new general manager Tommy Sheppard ensures a key player remains with the Wizards for the long term. He played all 164 regular-season games in that span and set career highs in scoring (25.6), assists (5.5), rebounds (5.0), steals (1.5) and minutes (league-high 36.9) in 2018-19.
A two-time NBA All-Star, Beal was drafted with the third pick in the first round of the 2012 NBA Draft out of the University of Florida.
So the contract was signed, and it will be a game-changer both for Beal and the Wizards. Money-wise, things are looking for Beal.
Prior to the extension, Beal was entering his next to past year under contract with the Wizards.
Beal will receive a two-year extension worth almost $72 million that begins with the 2021-22 season, his agent confirmed Thursday.