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Arenas deal done

Gilbert Arenas officially signed his six-year, $111 million contract, the team announced today. Ernie Grunfeld released the following statement:

"Today is a great day for the Wizards organization. Gilbert is a phenomenal player and his value to the franchise goes beyond what he brings to the court. We're proud and excited that we were able to take care of our own free agents and open the 2008-2009 season with a healthy core intact."

By Ivan Carter  |  July 13, 2008; 5:21 PM ET
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