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The Wizards re-signed Bradley Beal to a five-year max contract worth $128 million back on July 1. Now, the team has officially announced the move.

Wizards President Ernie Grunfeld cited Beal's basketball potential and off-court character as reasons the team was eager to retain him. 

“Bradley has proven himself as one of the top young shooting guards in the league, and we feel that he has the potential to rise to an elite level as he enters the prime of his career as one of the cornerstones of our team,” Grunfeld said.

“He is an outstanding member of the community and a great example of the type of player and person we want to represent our franchise.”

Last season, the Florida product averaged a career high 17.4 points per game, but again missed significant time due to a stress reaction in his lower leg.