The Washington Wizards will hold a press conference to celebrate Otto Porter's new contract extension on Wednesday. Here is everything you need to know...

When: Wednesday, July 18 at 11 a.m.
Who: Otto Porter, owner Ted Leonsis, president Ernie Grunfeld, head coach Scott Brooks
Where: Verizon Center
Live stream: http://www.csnmidatlantic.com/live-stream

What to watch:

• Porter and the Wizards will explain why and how the deal came about. Porter signed a four-year contract worth $106.5 million on July 13. This is the first time he will address the media since the news broke. 

• CSN will have full coverage with Wizards reporter Chris Miller as host.

• There could be other Wizards-related updates depending on who speaks aside from the press conference like the latest with John Wall's contract, etc.

• Porter will hold a basketball clinic for children from Dreams For Kids D.C. and Special Olympians friom McKinley Middle School-ESY before the press conference. After the press conference is over, Porter will host them in a suite for the Mystics game that afternoon.

[RELATED: John Wall supports re-signing of Otto Porter]