Remember that June 20th deadline?  Who needs it?  Gilbert sure doesn’t:

Gilbert Arenas said he opted out of the final year of his contract with the Washington Wizards by filing the necessary paperwork with the league office Friday. The move makes Arenas, who was scheduled to earn $12.8 million next season, an unrestricted free agent.

Any last hopes that Gilbert might re-consider his options and try to boost his value by staying in his current contract are now gone.  For the first time in 5 years, Gilbert Arenas is a free agent.