How a team legally stole a star player
How can you sign a player that their old team isn’t even allowed to keep? You use a ‘poison pill’ contract, a move so clever it broke the NBA’s system. In 2003, rising star Gilbert Arenas was a restricted free agent. His team, the Golden State Warriors, should have been able to match any offer he received. But the Washington Wizards designed a contract with a massive pay jump that, due to a specific salary cap loophole, the Warriors were legally unable to match. This brilliant (and controversial) move allowed the Wizards to poach Arenas without Golden State being able to do anything about it. The NBA was forced to act, creating a brand new rule nicknamed the ‘Gilbert Arenas Provision’ to close the loophole for good. This is the story of how one player’s contract outsmarted the entire league.
