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The sun is setting on Gilbert Arenas‘ $111 million NBA contract this month and he’s making some cuts. The first is his kids education. 

According to TMZ Arenas’ epic-fail six-year $111 million contract ends on October 31st. He signed the deal back in 2008 before his career was derailed by injuries and antics like his near locker room shootout with NBA player turned felon Javaris Crittenton. The deal was later restructured to pay out for eight years.

With the deal now coming to a close, Arenas says that he has to start making some cuts. TMZ reports that one of the first cuts will be taking his kids out of private school. Yes, the same ones he was talking about when he said “f*ck my kids” when arguing with their mother Laura Govan on the phone.

TMZ writes that after the NBA checks stop, Arenas will be getting $169,895 per year in investment income. The school that his kids go to costs $91,600 per year.

Arenas sounds like he’s been prepared for this day. Back in 2013 he acknowledged the contract and that it was going to end one day.

Photo: WENN.com