Sources within the Wizards organization have denied a published report that President Ernie Grunfeld recently rejected owner Ted Leonsis’s three-year, $4.5 million proposal to stay with the franchise. Grunfeld’s contract is set to expire after this season, but team sources said he has not been offered an extension and another person with knowledge of the situation said the New York Post report was “made up.”
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When asked about his contract situation at the end of last season, Grunfeld said, “I’m under contract. I’m not really even thinking about that at all … All I’m thinking about is making this team as good as possible and continue to do the plan that we have in place.” Grunfeld has been one of the league’s highest-paid general managers for the past five years, with league sources contending that he earns a salary between $3.5 million and $4.5 million. The salaries for general managers and coaches have dipped considerably in recent years, with teams seeking different ways to cut down costs.