Wizards news: How the Bradley Beal extension went down

Bradley Beal signed a two-year, $72 million contract extension with the Washington Wizards on Thursday. Here's how it went down.

All-Star shooting guard Bradley Beal signed a two-year, $72 million contract extension with the Washington Wizards on Thursday.

The groundwork for this deal was made possible after Beal had a meeting with Wizards owner Ted Leonsis and GM Tommy Sheppard in Chicago last month, according to Chase Hughes of NBC Sports Washington.

According to multiple people familiar with the negotiation process, Wizards managing partner Ted Leonsis flew to Chicago along with the team's general manager Tommy Sheppard and other executives. They met at the offices of Priority Sports with Beal's team of agents led by Mark Bartelstein and Beal was able to ask questions about where the organization was headed.

Beal is now guaranteed $130 million over four seasons. His new deal contains a player option for the 2022-2023 season. Beal would be eligible to sign a five-year, $266 million contract with the Wizards in the summer of 2022 if he declines that player option.

Beal averaged 25.6 points, 5.0 rebounds and 5.5 assists last season for the Wizards while shooting 47.5 percent from the field, 35.1 percent from beyond the arc and 80.8 percent from the free-throw line. He's the best player on the team since All-Star point guard John Wall is likely going to miss the entire season recovering from his Achilles tear.