ric signs
WASHINGTON -- "http://206 basketball/nba/teams/WAS/index.html'>Washington Wizards guard Mitch Richmond,
the best remaining free agent on the market, reportedly has
agreed to terms on an incentive-driven four-year, $40 million
contract.
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Broadcast reports indicated Richmond, one of the NBA's best and most underpaid shooting
guards, has decided to remain with Washington. The report said
the Wizards have a buyout option after the second year and
Richmond can void the option by reaching certain incentives.
The Washington Post, citing an unidentified source close to the
negotiations, is reporting the Wizards can buy out the six-time
All-Star for $10 million after two years and $5 million after
three years.
With an annual average of $10 million, the contract makes the
34-year-old Richmond the NBA's highest-paid shooting guard.
Guards Latrell Sprewell, Allen Iverson, Kobe Bryant and Reggie
Miller all have deals paying them in the $9 million range next
season.
The agreement appears to give the Wizards assurances should
Richmond begin to slow down. Although he led the Wizards with
19.7 points per game last season, it was the lowest average of
his 10-year career.
The deal is similar to the one the Wizards struck prior to last
season with Rod Strickland. The point guard signed a four-year,
$40 million deal which has a $5 million buyout after the third
year.
Richmond was a 1988 first-round pick of the Golden State
Warriors. In May 1998, he was acquired with Otis Thorpe for
Chris Webber from the Sacramento Kings, where he spent seven
seasons. He has played in only 21 career playoff games.
Richmond was the 1989 Rookie of the Year and 1995 All-Star Game
Most Valuable Player. Prior to last season, he never averaged
less than 21.9 points per game, with a high of 25.9 in 1996-97.
Earlier today, the Wizards signed free agent forward Aaon
Williams, who had been with the Seattle SuperSonics. During the
offseason, they allowed Thorpe to depart via free agency and
acquired center Isaac Austin from Orlando for forwards Terry
Davis and Ben Wallace and guards Tim Legler and Jeff McInnis.