According to the Washington Post, Gilbert Arenas will miss all of training camp and the first month of the upcoming NBA season. 

Gilbert Arenas confirmed Wednesday that he underwent a surgical procedure this morning that "cleaned out some debris" in his left knee and won't be ready to play for the Wizards until early December. Arenas, who has undergone two surgeries to repair the left knee in the last two seasons, has been limited during the rehab process all summer and said he has planned all along on not participating in training camp or the preseason.

Arenas is likely out until December after another knee surgery.

The Wizards proved last season that they can survive without Arenas, but this is certainly a blow with the improved competition in the Eastern Conference.  Arenas just resigned with the team this offseason for a 6-year $111 million deal.  The team currently has only Antonio Daniels and Dee Brown at the point guard spot, and it would be difficult to make a move right now to shore up the position.  Washington will likely stay with what they have (barring another injury) and wait for Arenas to get back.

This also sets the team back as it was trying to reintegrate Gilbert back into the team after he missed much of the end of last season when the Wizards made a playoff run without him.  Now, with him out even longer, the transition period could last into early 2009.  The Raptors, Magic, Heat, and Bulls all improved themselves in the offseason.  This could potentially push Washington down into the bottom portion of the playoff bracket out East.

 
Wizards fans will at least have the antics of DeShawn Stevenson to keep them entertained early on in the season.