The Washington Wizards have re-signed three-times All-Star guard Gilbert Arenas, the team said yesterday.

Terms of the contract were not announced but sources said it was worth US$111 million over six years.

"Today is a great day for the Wizards organization," Wizards President Ernie Grunfeld said in a statement. "Gilbert is a phenomenal player and his value to the franchise goes beyond what he brings to the court."

Arenas averaged 19.4 points and 5.1 assists in just 13 regular season games last year after undergoing surgery to repair a torn meniscus in his left knee.

The 26-year-old has averaged 25.6 points, 5.6 assists and 4.3 rebounds since joining the Wizards as a free agent in 2003.

Arenas has averaged 22.8 points and 5.5 assists during his seven-year NBA career. He played two seasons with Golden State before joining the Wizards.

(Agencies via Shanghai Daily July 14, 2008)