There are Friday afternoon news dumps and then there are Friday night news dumps that change, and stabilize, the entire complexion of the D.C. sports scene. Washington Wizards point guard John Wall has agreed to a four-year, approximately $170 million designated player veteran extension to stay in town for at least five seasons. David Aldridge had the news first and Hoop District was able to confirm from a source. The last year, 2022-23, will be a player option and Wall's representative Rich Paul also negotiated a trade kicker similar to Otto Porter Jr.'s max offer sheet, which team president Ernie Grunfeld said “none of those things were unexpected.”
"Y'all know I wasn't going no where," Wall said in a video statement. "Re-signed with the Wizards. Signed my extension, you know where I want to be. Love being in D.C. Love the organization, love my teammates, love the amazing fans. Just had to think it out with my family and friends. I'm happy I am coming back for another four years. Definitely going to bring y'all that championship, that's my ultimate goal. And I ain't going to stop till I get it."
“John is an exceptional talent and a cornerstone for our team – and our city,” said Ted Leonsis in a press release. “This signing means stability for the Wizards for years to come and solidifies our commitment to drafting and then developing talent here at home. It’s John’s unique blend of skill and leadership that makes us a championship-caliber team.”
“Returning to the only team I’ve known in my professional career was an easy decision for me,” said Wall. “I want to thank my family, Mr. Leonsis, Ernie Grunfeld, all of my coaches and my teammates for their amazing support over the last seven years. I understand my role as the leader of this franchise and I will continue to work hard to improve my game and make our team better. Washington, D.C., is my second home and I take seriously my efforts in the community and look forward to strengthening that bond. Our fans are amazing and I’m excited to bring them and this city continued success and a team they can be proud of.”
“John’s passion for winning, dedication to his teammates and commitment to the community have been on display since we drafted him seven years ago,” said Grunfeld. “He has constantly worked to improve and expand his game and has developed into an All-NBA player who has elevated our franchise and electrified our fans. We are thrilled that he will continue to lead us through the prime years of his career and look forward to watching as he solidifies his place among the greatest players in our team’s history.”
Wall, 26, is coming off a career where he averaged 23.1 points, 10.7 assists, and 4.2 rebounds, while coming off of an offseason of double knee surgery that prevented him from playing in back to back games early in the season. He went to his fourth straight All-Star game and was named to his first All-NBA team, which is of course why he was able to sign this "supermax" extension. He will now essentially play on a six-year, $207 million contract that includes the remaining two years of his first max contract.
Majority team owner Ted Leonsis made a bold prediction just 48 hours ago that Wall would sign on the dotted line and that is indeed the case. "I told everyone when John was coming off his rookie contract that we would sign him and he would be our bed rock player," Leonsis told reporters at Otto Porter Jr.'s press conference.
Wall opted not to risk not making an All-NBA team next season, which would have meant he could not sign a five-year, $220 million extension, and instead cashed in this summer.
Assuming Porter does not opt out, which is a possibility, the only members of the Washington Wizards under contract for the next four years are John Wall, Bradley Beal, Otto Porter Jr., and head coach Scott Brooks. That is not too shabby of a combination.
The decision to make Wall the offer was a no-brainer, but it should be noted that in addition to the previous trio of players mentioned, Washington is already running a team salary of $107 million if they do not move Ian Mahinmi's contract.
Leonsis said on Wednesday that "we are in the tax and we will spend whatever we need to get better.” Washington will likely be in the tax for the next three seasons and probably a fourth after never going into the tax previously.
Last summer's offseason included not even getting a meeting with Kevin Durant, missing out on Al Horford in a wild finish, and panicking to spend too much money on a bench that was a bust. This summer included re-signing Porter, an important piece of the core, extending Wall, the franchise cornerstone, and adding three bench players to the rotation for cheap. Now that is a 180.