Gilbert Arenas has done a lot of things since he last played in the NBA, like make fun of Roy Hibbert relentlessly, release a text messaging app, and post lots of strange things on Instagram.
But get this: despite being out of the league since 2012, Arenas will make at least $12 million a year from the NBA until 2016. 2016! This is money that he’s still owed from the 6-year, $111 million deal he signed with the Wizards in 2008.
When the Wizards traded Arenas to the magic in 2010, Orlando amnestied his contract with three years, $62 million left on the deal. That means that even this year, Arenas is still pulling in huge money.
"The NBA says I get 20-something (million) this year” he said recently. "I stopped keeping track."
Arenas $22.3 million salary makes him the third highest paid player in the NBA this season. Think about that. While he sat at home playing video games, Arenas was paid more than everyone in the NBA other than Dirk Nowitzki and Kobe Bryant.
$22.3 million is about the same as three stars from his old DC team -- John Wall, Nene, and Bradley Beal -- were paid combined this season.
Instead of paying Arenas another $20 million+ sum next year, the remainder of his contract will be stretched out so he will get $12 million per year until 2016. So for at least two more years, one of the better paid players in the NBA will be one who hasn’t played since 2012.
When asked where his contract ranks among the worst of all time, Arenas said “I’m probably up there.”