John Wall and Washington Wizards Officially Agree to 5-Year Extension

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John Wall and Washington Wizards Officially Agree to 5-Year Extension

John Wall has been knocking on the "elite point guard" door since he was drafted in 2010, and while he may still be on the fringe of joining that superstar group, the Washington Wizards have full confidence that he can take the next step. 

At least, they demonstrated that belief by reportedly signing the 22-year-old to a massive contract extension. Michael Lee of The Washington Post has the news and details of the restructured deal:

UPDATE: Thursday, August 1, at 4:45 p.m. ET by Ian Hanford

Washington Post reporter Michael Lee has an update on what Wall plans to do with some of his money:

---End of update---

 

UPDATE: Thursday, August 1, at 3:55 p.m. ET by Ian Hanford

Washington Post reporter Michael Lee has an update from Wall's press conference:

---End of update---

 

UPDATE: Wednesday, July 31, at 5:00 p.m. ET by Ian Hanford

The Wizards made Wall's extension official via NBA.com:

The Washington Wizards have agreed to a contract extension with guard John Wall, Wizards President Ernie Grunfeld announced today. Per team policy, terms of the contract were not released.

“Since drafting John with the first overall pick, we have been impressed with his maturation, hard work and commitment to our franchise,” said Monumental Sports and Entertainment Founder, Chairman, Majority Owner and CEO Ted Leonsis. “He is the cornerstone of our team, and we have clearly expressed our desire to build around him well before making it official by re-signing him today. We are extremely confident in his leadership abilities and are excited to see the continued improvement of the team.”

---End of update---

 

Original Text

If Wall didn't agree to a contract extension by Oct. 30, all talks would have had to subside until next summer, when he would have become a restricted free agent. 

The Wizards undoubtedly would have matched whatever deal Wall might have received, but now it's out of the way as the up-and-coming team will attempt to make the NBA playoffs in the 2013-14 season.    

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And should the Wiz make it to the postseason for the first time since 2008, it will be on the back of Wall. 

As the first pick in the 2010 draft, the former Kentucky superstar averaged an impressive 16.4 points and 8.3 assists per contest as a rookie, but his inefficiency—40.9 percent from the field, 29.6 percent from long range, almost four turnovers per game—was slightly alarming and discouraging. 

In each of the two seasons since then, however, Wall has increased his field-goal attempts, field-goal percentage, free-throw attempts, free-throw percentage, assists per 36 minutes and points per 36 minutes. 

That's some steady improvement, capped by a 2012-13 season that left fans in the nation's capital with high expectations. 

After missing the first 33 games of the season, Wall returned and immediately led the Wizards back to respectability. On the year, he finished with impressive averages of 18.5 points, 7.6 assists and 1.3 steals as he guided his team to a 24-25 record when he was in the lineup.

Wall's game still isn't complete—his jump shot still needs a lot of workbut he's one of the most explosive, tantalizing guards in the league, and he is clearly only getting better. 

Now that Wall is locked up for the long term, he, Bradley Beal and Otto Porter give the Wizards a very enticing future.   

 

 

 Original Text

 

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