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It's done. John Wall has signed the Wizards' five-year maximum-extension offer, which will be worth around $80 million, according to Michael Lee of the Washington Post. The deal will begin with the 2014-15 season.
The signing has been a formality for over a week, with the two sides working out smaller details since the original reports came out. What those smaller details are remains to be seen, but I would be surprised if they affect the full dollar amount of the contract too much, if at all. It's not immediately clear exactly how much Wall will receive because he's ultimately going to get what amounts to slightly less than 25 percent of the salary cap (see explanation here) and it's not clear what the 2014-15 salary cap will be.
The deal has been seen as such a formality that Wall himself talked about it like it was done at the Team USA camp last week. My thoughts on the contract are here.
Let the Wall era begin.