The first rule of the NBA offseason? Resign your own free agents.

Dealing a major blow to the team’s playoff aspirations for 2006, today Jeff Wechsler, agent for Wizards guard Larry Hughes, told ESPN.com that Hughes will not return to Washington next season, opting to play for the Cleveland Cavaliers instead. Hughes, a free agent, was expected to return to Washington to build upon the team’s first appearance in the 2nd round of the playoffs since the 80’s, but instead decided to join NBA wunderkind LeBron James in Cleveland.

Internet buzz had the Wizards offering Hughes a contract beginning at roughly $8 million a year, which apparently insulted Hughes. After his breakout season last year (22 ppg, 4.7 apg, 2.89 steals), he felt he was in line for a pay raise along the lines of what Gilbert Arenas($10.2 million) and Antawn Jamison($13.8 million) were making. The Wizards eventually upped their offer to a five year deal worth about $70 million, but by then it was too late. Hughes opted to sign in Cleveland for similar money.

What now for the Wiz? Hughes obviously leaves a big hole in the backcourt, and they still have Kwame Brown to deal with. The market for free agent shooting guards is dwindling (and getting more expensive) daily and time is running short. Look for them to dangle Brown in a trade in order to bring back a new running mate for Gilbert Arenas. Maybe that Brown for Bonzi Wells deal we proposed a while back makes a bit more sense now.