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.
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
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
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
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 PlayerPrior 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
Aaron 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.
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