Mike Bibby and the Washington Wizards have agreed to terms on a buyout.

In a stunning move, Bibby, whom the Wizards acquired from Atlanta last week in a trade for Kirk Hinrich, gave up his entire salary for next season. The 32-year-old point guard had one year and $6.2 million left on his deal.

"He sacrificed some money in order to win a championship," said David Falk, Bibby's agent. "Once you're past 10, 11 years in the league, you want to be in a situation where you can win. He's got some attractive options open to him."