Rather than let a rich contract extension sit on his desk and turn brown, John Wall decided to get the green. And it is a big pile of it.
He has agreed to the four-year, $170 million extension from the Washington Wizards under the Designated Player Veteran Exception, which makes him one of the highest paid players in the NBA. What’s more, the Wizards now have their top three players under contract for at least the next four seasons, with Wall following Bradley Beal and Otto Porter.
John Wall has agreed to the designated player veteran exception in Washington, per source, that will pay him a total of $207M through 2023.
— David Aldridge (@daldridgetnt) July 22, 2017
Wall also announced the deal himself on social media.
BREAKING NEWS: @JohnWall announces on UNINTERRUPTED he is re-signing with the @WashWizards. pic.twitter.com/L1Sg4h2Uu1
— UNINTERRUPTED (@uninterrupted) July 22, 2017
Wall’s extension, which was offered to him nearly two weeks ago, doesn’t begin until after his current five-year contract ends in two years. He’ll fetch $207 million total through 2022-23.
Just weeks ago the Wizards matched a four-year, $106 million offer sheet to retain Porter and keep him from the Brooklyn Nets. And last year was the first under Beal’s contract, which pays him $127 million over five years.
By locking up their best players, the Wizards are hoping to keep a young nucleus intact and make a run in the Eastern Conference. It’s a consolation prize for the Wizards after losing out on a chance to get local guy Kevin Durant to sign as a free agent; Durant never seriously considered Washington in the end and left OKC for the Warriors.