Like every other deal the Wizards have signed this season, the Gooden contract won't cut into the Wizards' cap space for 2016. Gooden will make $3.3 million next year according to NBA.com's David Aldridge. It's a bit of a pay bump after playing for the veteran's minimum for the past two seasons, which he could justify because he was still receiving amnesty payments from the Milwaukee Bucks.
Now that he's not getting supplemental income from the Bucks, you can't blame Gooden for trying to maximize his earning income this season. Because of the Wizards' cap situation, they wouldn't have been able to sign someone outside of the organization to as much money as they gave Gooden. Are they overpaying Gooden here? Probably. But at the same time, they're getting better value overpaying him than they'd get if they tried to replace him with what they have left of their mid-level exception ($1.5 million), their trade exception from the Trevor Ariza sign and trade ($2.2 million), or signing someone for the veteran's minimum.
As we mentioned at the top, this signing means the Wizards will not have a roster spot to offer second round draft pick Aaron White or any of their Summer League invitees. The only way they can create a spot is by waiving someone and paying out the rest of their guaranteed salary, or make an unbalanced trade where they send out more players than they receive.
We're guessing Gooden will celebrate with a new shipment of heating pads.