John Wall in 2011. (Photo by Michael Loccisano/Getty Images)

John Wall, the 22-year-old Wizards point guard, will be staying in D.C. for at least the next five years, thanks to an approximately $80 million contract extension.

In news that may make you feel less resentful about Wall’s gigantic salary, he said yesterday he would donate $1 million from the contract to various D.C. charities.

At a press conference to announce the deal yesterday, Wall said he also wants to donate his time as well as money. He said he hasn’t picked out which charities would receive a chunk of his generosity.

In a blog post, Wizards owner Ted Leonsis said he’s “proud of John Wall for giving back to our community with his time and with his money.

“He is truly connected to the fan base and to the causes that need support here in the DMV,” Leonsis said.

Now that we’ve got the good feelings out the way, let’s ask the tough question: Is he worth all this money? Sean Highkin of USA Today thinks so:

The Wizards’ front office has made countless questionable decisions in recent years. This is not one of them. Paying Wall to stick around long-term makes perfect sense both from a credibility standpoint and a basketball one.

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Extending Wall doesn’t guarantee them success in the playoffs, nor does it make them a top free-agent destination. But it doesn’t hurt on either front, either. Having Wall locked up long-term makes pitches to future free agents much more credible and plausible. After Arenas’ gun-related 2010 suspension and the hapless Nick Young/Andray Blatche teams that followed, building around a player like Wall (unselfish, a hard worker and generally beloved as a teammate on and off the court) is a necessary rebranding move.