Earlier this week, Yahoo! Sports ran a list of the NBA's 12 worst contracts of the 21st century. And their worst contract overall was the six-year, $111 million contract that the Wizards gave to Gilbert Arenas back in 2008 (for the record, we also ranked Arenas' contract as the third-worst contract in NBA history earlier this year). So when a TMZ cameraman came across Arenas in a parking lot yesterday, he decided to ask him about his Yahoo! Sports' ranking. And surprisingly, Arenas didn't disagree with their assessment of his contract as the worst NBA contract of the 21st century.

"It could be," he said. "I'm not arguing that it's not."

But he also made a pretty good point about it. He said that the Wizards got what they paid for long before he ever signed that $111 million contract.

"What I did to get the contract was different than what I've done since I got the contract," he said. "I got hurt before I got the contract and I still got rewarded. So it's not like I tricked somebody. They knew I was hurt. I didn't play that year; I played like [13] games the year before my contract and I got the contract anyway, because of what I did. You get paid on what you did, not what you're gonna do. That's what people don't understand."

Makes sense. However, that didn't stop Arenas from explaining why his contract was one of the worst ones in recent history. Listen to him talk about that—and about what he's up to these days—in the clip above. Can you believe that he actually admitted that his contract sucked?

RELATED: The 25 Most Overpaid Players of the 2013-14 NBA Season

[via TMZ]