Washington Wizards' Gilbert Arenas carries the ball against the Los Angeles Lakers during the first quarter at the Verizon Center in Washington on December 14, 2010. UPI/Kevin Dietsch Photo via Newscom

The Orlando Magic have acquired three-time NBA All-Star guard Gilbert Arenas from the Washington Wizards in exchange for Rashard Lewis, President of Basketball Operations/General Manager Otis Smith announced today.

“Gilbert (Arenas) is a proven All-Star in this league and we’re excited to add him to our team,” said Smith.  “He is one of the top scoring guards in the game, he can create scoring chances for his teammates and he is as tough as they come.  Rashard (Lewis) was important in helping our franchise get to the next level, and we wish him and his family all the best in the future.”

“This trade allows us to continue to rebuild around our core group of young players and provides financial flexibility as we move forward,” said Wizards President Ernie Grunfeld.  “We’re thrilled to have been able to accomplish those goals while also getting back a two-time All-Star in Rashard Lewis, who brings us versatility, three-point shooting and a veteran presence.”

“When we re-signed Gilbert prior to the 2008-09 season, we envisioned a level of team success that we unfortunately were not able to achieve due to injuries and other factors beyond our control,” said Grunfeld.  “We appreciate the contributions that he made to this franchise and this city and wish him the best of luck.”

Arenas (6’4”, 215, 1/6/82) has played in 21 games this season (14 starts) with Washington, averaging a team-high 17.3 ppg., 5.6 apg., 3.3 rpg. and 1.43 stlpg. in 34.6 minpg.  He is currently tied for 21st in the NBA in assists, ranks 28th in steals and is tied for 35th in scoring.

Originally selected in the second round (31st overall) of the 2001 NBA Draft by Golden State, Arenas was named to the All-NBA Second Team once (2006-07) and to the All-NBA Third Team twice (2004-05, 2005-06), while also earning the NBA’s Most Improved Player award in 2002-03.  He has been named to the NBA All-Star team three times (2005-07).

Arenas has appeared in 486 career NBA regular season games with Golden State and Washington, averaging 22.5 ppg., 5.6 apg., 4.2 rpg. and 1.71 stlpg. in 37.2 minpg.  He has shot .356 (1,016-2,856) from three-point range during his career.  Arenas has also played in 20 career playoff outings, averaging 24.2 ppg., 5.3 apg., 4.6 rpg. and 1.80 stlpg. in 41.4 minpg.

Lewis (6’10”, 230, 8/8/79) has played and started in 25 games this season with Orlando, averaging 12.2 ppg., 4.2 rpg. and 1.2 apg. in 32.4 minpg.  He played in 257 games with the Magic from 2007-10, averaging 16.3 ppg., 5.1 rpg., 2.1 apg. and 1.09 sltpg. in 35.5 minpg. during that span.

Originally selected in the second round (32nd overall) of the 1998 NBA Draft by Seattle, Lewis has appeared in 874 career NBA regular season games with Seattle and Orlando, averaging 16.5 ppg., 5.6 rpg., 1.8 apg. and 1.13 stlpg. in 34.4 minpg.  He was acquired by the Magic in a sign-and-trade deal with Seattle (now Oklahoma City) in exchange for a future conditional second round draft pick on July 11, 2007.

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