Mar 31, 2012; Milwaukee, WI, USA; Memphis Grizzlies guard Gilbert Arenas (10) defends Milwaukee Bucks guard Beno Udrih (19) during the second quarter at the Bradley Center. Mandatory Credit: Jeff Hanisch-USA TODAY Sports

Gilbert Arenas Will be Third Highest Paid Player in NBA This Season

Bad contracts will always come back to haunt teams. For the Orlando Magic, Gilbert Arenas’ six year, $111 million dollar deal is more than haunting – it’s downright terrifying.

The former Arizona Wildcat hasn’t technically played in the NBA since 2012 (if you count 17 games as a Memphis Grizzlie) and he hasn’t played for the Orlando Magic since the 2010-2011 season when the franchise acquired him from the Washington Wizards – the same Wizards who gave Gilbert that $111 million dollar deal in 2008 (they actually offered $124 million, originally).

The Magic tried their best to make the Arenas situation work, but after fifty games or so, they cut ties using the NBA’s amnesty provision. That meant the former Wildcat was off of their salary cap, but not their books. Now, in what will be the final season of that horrible deal, the Orlando Magic will make Arenas the third highest paid player in the NBA this year, just behind Kobe Bryant and Dirk Nowitzki.

Arenas most recently played for the Shanghai Sharks of the Chinese Basketball Association, but recently came back to the states where he was arrested with enough fireworks to make a pyromaniac blush.

I’m guessing he had enough bail money.

Tags: Gilbert Arenas Orlando Magic