From David Aldridge's article about the Gilbert Arenas gun incident on NBA.com, we get some additional information.
Again, I'd like to stress that Gilbert Arenas has not been charged with any crime, nor has he been indicted, tried or convicted; however, there is some real good information in David Aldridge's article... including an apparent confirmation by a "league source" that both players had guns in their hands. The incident involved a debt of $25,000 that Arenas owed Crittenton.
UPDATE, from Mike: Via the Washington Post.
A person who has spoken with Arenas recently said that the incident involving Crittenton was "nothing more than horseplay" and that there was never any intent to physically harm Crittenton. The person also said the argument between Arenas and Crittenton was over "who had the bigger gun."
More and more of this stuff will come out - it just will take time to separate truth from fiction. Either way, this sounds ridiculous.
UPDATE, from Jake: Don't forget to check out the SB Nation story stream devoted to the latest in this odd, odd story.\
UPDATE, from Mike: Via Marc Stein at ESPN.
A dispute that began on the team plane and resumed more than 24 hours later in the team's locker room between Washington Wizards guards Gilbert Arenas and Javaris Crittenton is at the center of an investigation by local and federal authorities into Arenas' recent admission of gun possession on Wizards property, according to sources close to the situation.
Multiple sources told ESPN.com that an argument commenced during a card game on the team's overnight flight back to Washington from Phoenix on Dec. 19 and escalated into a heated exchange between Arenas and Crittenton. The Wizards had Dec. 20 off, but sources say the hostilities resumed Dec. 21 in the locker room on a practice day.
Sources say that Arenas, in response to what was said on the flight, placed three guns he owns on a chair near Crittenton's locker stall and invited him to pick one before practice on Dec. 21. Sources said that Crittenton subsequently let Arenas know that he had his own gun.