Washington, DC (Best E Casino) - Washington Wizards guard Gilbert Arenas reportedly has decided to opt out of the final year of his contract Monday, according to a story in the Washington Post.

The move makes Arenas an unrestricted free agent. He was scheduled to earn $12.8 million next season.

Teams are eligible to negotiate with free agents beginning on July 1.

A three-time All-Star, Arenas played the first eight games of the season for the Wizards before needing surgery to repair a torn meniscus in his left knee, the same knee that required surgery in the offseason. He returned April 2 after missing 66 games during the regular season, but continual problems with his surgically repaired knee forced him to end his season following the Wizards' 100-97 loss to Cleveland in Game 4 of their Eastern Conference quarterfinal series.

In seven NBA seasons, the 26-year-old Arizona product owns career averages of 22.8 points, 5.5 assists and 4.2 rebounds per game.