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Nick Young Signs One-Year, $3.7 Million Qualifying Offer To Remain With Washington Wizards, According To Report

The Washington Wizards and restricted free agent shooting guard Nick Young have agreed to a 1-year qualifying offer worth $3.7 million, according to a report by the Washington Post.

Young is coming off a career year with the Wizards, finishing as the team's leading scorer at 17.4 points per game, but found a rushed free agent market that was unfavorable to players at his position. Most teams around the league anticipated the Wizards would match any offer for Young and few had the resources to give him a lucrative offer sheet.

According to the report, Young is in the process of flying back to Washington right now to sign the deal. By signing the offer, Young will now become an unrestricted free agent after the 2011-2012 NBA season. Young has missed all training camp and the first Wizards preseason game, but wants to get back with the team as soon as possible.

For more on the Wizards, please visit Bullets Forever, SB Nation's Wizards blog.