JULY 6: The Wizards have officially announced Beal’s new contract, putting out a press release to confirm the deal.
“I have been blessed to call the city of Washington my home and the Wizards organization and our fans my family for the last 10 years, growing as a player, a leader, a husband and a father along the way,” Beal said in a statement. “Today represents such a special moment in my life.
“I could not be more grateful to have the opportunity to continue to partner with (Wizards owner) Ted (Leonsis), (president of basketball operations) Tommy (Sheppard), (head coach) Wes (Unseld Jr.) and the entire organization in moving forward to achieve our dream of bringing championships to D.C. and, just as importantly, to help our community continue to accomplish amazing things together.”
JUNE 30: The Wizards and Bradley Beal have agreed to a five-year, maximum-salary contract that will keep the star guard in D.C., agent Mark Bartelstein tells Adrian Wojnarowski of ESPN (Twitter link).
Beal’s new contract will pay him a $251,019,650 over the five years. The most a rival team could have offered would have been $186,100,778 over four years.
Beal declined his $36.4MM player option for 2022/23 in order to become an unrestricted free agent and maximize his earnings. He indicated in both March and May that he was leaning toward re-signing with the Wizards, so the news is expected.
The 29-year-old missed the final 33 games of the season because of an injured left wrist. He recently said the recovery process is going well and estimates that 80-90% of his range of motion has returned.
A three-time All-Star, Beal has been the subject of trade rumors for years but has remained loyal to Washington. Now that loyalty has paid off in a major way. He’ll get a chance to play a full season with Kristaps Porzingis, who was acquired at the February trade deadline, for the first time next season.
Beal finished second in the NBA in scoring in both ’19/20 and ’20/21, averaging more than 30 PPG in each season, but slumped a bit last year by his lofty standards, averaging 23.2, 4.7 RPG and 6.6 APG in 40 games (36 MPG). One potentially alarming statistic is that Beal’s three-point percentage has declined each of the past three seasons, with a career-low 30% in ’21/22, although his 6.6 assists per game represented a career-high.
Beal’s contract will pay him through his age 33 season, at which point he’ll become a free agent. Given his mediocre defense, it’s fair to question whether he’s worth more than $57MM in ’26/27, but there was never any doubt that he’d receive a max contract this summer.