Wizards and John Wall begin extension talks

The Wizards have begun talking with John Wall’s agent, Dan Fegan, regarding an extension before the regular season, CSN Washington has learned.

Wall, the No. 1 overall pick in 2010, is eligible for up to a four-year, max contract with the Wizards in addition to the final year remaining on his deal that will pay him $7.45 million next season. If he’s named the franchise’s designated player, Wall can get five years.

If the Wizards cannot reach an agreement with him by Oct. 30, talks will have to be tabled until after the 2013-14 regular season.

Reported by J. Michael of CSN Washington