Denvr_Sports_Insider's Blog

 I talked to a first-hand source who is knowledgeable of Washington Wizards guard Gilbert Arenas's current contract situation.  They provided a brief update this morning.

The "first-hand" source told me Arenas does not wish to be quoted before he's due to become a free agent Tuesday, however they said Arenas is hoping his contract situation with the Wizards is mutually agreed upon before taking off for Asia 9am Tuesday.

A spokesperson with the NBA confirmed today that league contracts cannot be officialized until July 9th.

However, the first-hand source added, "most likely [he] will get it done before he leaves," but the source provided no absolute assurances to that fact.

Fox 31 sports was also told that as of early Monday morning Arenas himself had not yet talked with the Wizards directly. Current reports say the team is set to offer Arenas a six-year contract that could be worth more than $100 million dollars.

Earlier this off season, Arenas made the decision to opt out of the final year of his contract in hopes of securing a maximum-level contract.

Right now, the first-hand source said Arenas is concentrating on getting away, and not really talking to the press about money matters.

They added, Arenas just wants to go to Asia and promote his shoe globally for the next couple of weeks.

The 26-year-old is averaging 22.8 points and 5.5. assists.