Bill Simmons nails this:
4. Gilbert Arenas will become the new C-Webb.
Not in a basketball sense, but in a “My God, why did we commit such a staggering amount of money to a guy who clearly has knee issues and might have already peaked as a player when nobody else could have come within $30 million of our offer?” sense. The Chris Webber contract murdered the Kings; Gilbert’s contract could murder the Wizards. And by the way, C-Webb was better than Gilbert — a healthy, happy C-Webb made you a title contender, whereas a healthy, happy Gilbert makes you a 5-seed in Round 1 at best. Big difference.
(When I asked for a one-sentence defense of Gilbert’s $113 million contract from my buddy House, a lifelong D.C. fan, here’s what he sent back: “I would prefer not to, as I think it is a franchise-crippler and thus indefensible.” Well said. When do you think sports franchises will break out of the “We need him to put butts in seats!” mindset and realize winners are the only things that put butts in seats? 2015? 2020? 2030? Hey, that reminds me …)
Exactly. Agent Zero made what’s got to have been one of the most rapid ascensions from underrated to overrated — from a guy nobody had heard of but who was actually good enough to be the best player on a so-so basketball team, to a guy who was on the cover of video games even though he was only good enough to be the star of a so-so basketball team. Now he’s hurt (again) and we’re getting our asses kicked by the Nets at home.