As quoted by ZenBaller in the FanPosts, the Washington Post's Ivan Carter:
On a standard six-year maximum contract acquired via sign-and-trade, Gil's 2008-09 salary would be $17.1 million. Brad Miller and John Salmons gets it done from a contractual standpoint. It's unclear whether Washington would want to take those contracts back — Salmons is fairly priced, Miller can play in Eddie Jordan's Princeton offense and expires in 2010. The only real 2009 expirings Sacramento could offer would be Ron Artest and Mikki Moore (sort-of); you'd assume playing with Artest and Kevin Martin would be the reason Gil would want to come to Sacramento (besides the $124 million, of course). A Shelden Williams, Artest, Moore combination would work financially if Ron's not a requirement, though.
A hypothetical Gil max contract would look like:
That is a lot of money. But Gil is a lot of player. If Arenas regained his pre-2007 production, Gil&Martin would instantly be one of the best backcourts in the Western Conference (perhaps behind only Parker/Manu and Telfair/McCants). The injury creates quite a big if, though. And I can guarantee you right now whichever team signs Gil to a max contract will get murdered in the press and the blogs. Can we handle the jokes?
Right now, it'd appear the Kings are a deep, deep third among reasonable options. Golden State can lock in Arenas without Wizards cooperation. It appears the Wizards would like Arenas for themselves. Dominoes would have to fall for it to happen here. I'm fully on board and in full-on hope mode. How 'bout you?