A team has finally used the new amnesty clause and that team is the Orlando Magic. According to reports, the Magic have reportedly used the clause on Gilbert Arenas, a three-time All-Star and 2003's Most Improved Player.
The Magic officially waived Arenas on Friday, the first day teams could sign and waive players.
Arenas is currently owed $62 million scattered over three years and he will eventually receive the money, but it will not count against the Magic's salary cap and their luxury-tax.
Arenas played in 70 games last season as was primarily used as a back-up behind point guard Jameer Nelson. The former Wizard and Warrior averaged 10.8 points and 3.9 assists per game for the Magic last season.
After entering the NBA in 2001 with the Golden State Warriors, Arenas was considered to be one of the best up-and-coming players in the NBA. In the 200-03 season, Arenas averaged 18.3 points per game and entered free agency.
He chose the Washington Wizards to sign with, but did it in a very odd way -- Arenas flipped a coin to decide which team to pick. His list included the Wizards, Clippers and the Warriors, but ultimately decided to go to a new team.
However, in his first season with the Wizards, Arenas battled a strained abdominal muscle injury all year, appearing in just 55 contests, while averaging 19.6 points per game in the process.
He would come back the following season and team up with Larry Hughes, as they formed one of the most potent backcourt duos in the NBA. The duo also led the league in scoring for a backcourt combination (Hughes - 22 PPG, Arenas - 25.5 PPG).
That season, Arenas made his first All-Star squad, while helping the Wizards to their first playoff appearance since 1997. Arenas and Co. defeated the Bulls in the first round of the playoffs, including a 16-foot fadeaway by Arenas in Game 5 that gave them the 112-110 victory. It was the Wizards' first playoff series victory since in more than a decade.
The following season, "Agent Zero" averaged 29.3 points, a career-high in that category. He made his second straight All-Star appearance after Jermaine O'Neal was forced to sit out because of injury.
During the 2006-07 season, Arenas scored a career-high 60 points against the Los Angeles Lakers, while also adding eight rebounds and eight assists in the Wizards' 147-141 victory. Arenas' performance set a franchise record for most points in a game, successfully out-doing Earl Monroe's 56 in 1968. Additionally, with the outing, Arenas is just one of twenty players in NBA history to score 60 points in a single game.
Arenas tore his MCL towards the end of the season when Charlotte's Gerald Wallace fell on his leg. The Wizards struggled the rest of the way without Arenas and Caron Butler, but still made the playoffs and were eventually swept in the first round by the Cleveland Cavaliers.
During the offseason, Arenas told The Washington Post that he would opt out of his contract following the 2007-08 season. On June 9, 2008, Arenas opted out of his contract, but stated that he'd re-sign with the team if they kept Antawn Jamison. They did retain Jamison and Arenas eventually signed a six-year, $111 million contract on July 13, 2008-- the Warriors also offered him a five-year deal worth more than $100 million.
However, in the 2008-09 season, Arenas played in just two games for the Wizards and his contract seemed to be regrettable.
On. Dec. 24, 2009, it was revealed that Arenas had admitted to storing firearms in his locker room at the Verizon Center and had surrendered them to security. Arenas violated NBA rules in the process, along with D.C. ordinances as well. On Jan. 1, 2010, it was reported that Arenas and teammate Javaris Crittenton had unloaded guns in the locker room during an argument that regarded gambling debts.
On Jan. 27, 2010, commisioner David Stern suspended Arenas and Crittentoon for the remainder of the season. He was convicted on March 26 and was sentenced to two years probation and 30 days in a halfway house.
24 games into the 2010-11 season, Arenas was dealt to the Orlando Magic in exchange for Rashard Lewis, both of whom have humongous contracts. Arenas decided to wear No. 1 in honor of his favorite player, Penny Hardaway.
His stint with the Magic didn't even last for a year and now he will be looking for a new team.
Arenas will definitely be grabbed up by somebody, the one question that remains is who? It is likely that a team such as the Warriors, Nets, Lakers, Hornets, Bulls, Knicks, Blazers, Thunder, Bobcats and Pacers could take a shot at him. Of course, Arenas will have to sign a mid-level exception to sign with some of these teams, as a few do not have much cap space. But if Arenas wants to win a championship, he will attempt to take a pay cut in exchange for a championship ring.
