For the third time in his NBA career, Bradley Beal has agreed to a new contract to remain a member of the Washington Wizards. Only this time that contract is one of the largest in NBA history.
Beal, 29, opted out of the final year of his previous extension to negotiate a five-year deal worth a projected $251 million with the Wizards. The deal was first reported by ESPN's Adrian Wojnarowski and confirmed by NBC Sports Washington. The Wizards did not officially announce the deal because of NBA rules but did issue a tweet:
The total salary number is a projection because he will earn 35% of the salary cap and future cap numbers have yet to be determined.
This new contract will keep him in Washington through his age-33 season. That final year, 2026-27, is a player option worth an estimated $57.1 million.
Beal has played 10 years for the Wizards organization after being drafted third overall in 2012 out of Florida. He has made three All-Star teams and was a third-team All-NBA selection in 2020-21.
Beal was eligible to sign a $251 million contract because of his 10 years of NBA service time. Beal and his agent, Mark Bartelstein, lined things up that way with his previous extension, signed in October of 2019.
Signing a five-year deal should give the Wizards and Beal a new degree of stability. His last contract was a two-year extension and did little to quiet rumors about his future plans.
The Wizards and Beal are now committed to each other for the long haul. If he plays out the entirety of his new contract in Washington, he will have spent 15 years with the franchise.
Beal is set to continue making his mark on the team's history. He is only 1,320 points behind Elvin Hayes on the Wizards/Bullets all-time scoring list. Based on Beal's usual scoring pace, he should get there sometime this upcoming season.
Beal is third on the franchise list for career games played behind Hayes and Wes Unseld Sr. Beal also already owns the mark for 3-pointers made.
With Beal signed, the Wizards can pivot to their other offseason objectives, namely improving their defense and shooting. They are hoping to return to the playoffs after finishing the 2021-22 season 12th in the Eastern Conference with a 35-47 record.
Beal will now return to play alongside Kristaps Porzingis, whom the Wizards acquired in a trade with the Mavericks in February after Beal's season was shut down due to a left wrist injury. They also just drafted guard Johnny Davis of Wisconsin with the 10th overall pick.
The Wizards traded for point guard Monte Morris on Wednesday. He is slated to start next to Beal in the Wizards' new-look backcourt.
More changes are surely ahead, but the Wizards just crossed a big item off their offseason to-do list.