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Embattled, gun-toting NBA star Gilbert Arenas was charged with felony possession of a firearm Thursday, according to Washington, D.C., authorities said.

The Washington Wizards player is now formally accused of a serious crime – one that carries a maximum of five years in jail, the Washington Post reports.

The charge was announced Thursday afternoon by the U.S. Attorney’s office for the District of Columbia after weeks of investigating Arenas’ conduct.

Arenas’ attorney and prosecutors were negotiating a plea deal today and it was not immediately clear whether the filing of charges was a part of that.

Most likely, Arenas would plead guilty to a misdemeanor charge and steer clear of jail. Court officials are prepared to have Arenas in court on Friday.

Gilbert Arenas is in hot water over packing heat in the locker room.

The U.S. Attorney’s office alleges that on December 21, Arenas “did carry, openly and concealed on or about his person, in a place other than his dwelling place, place of business or on other land possessed by him, a pistol, without license.”

That pretty much sums it up. He supposedly had guns with him at the Wizards’ facility and got into a heated standoff with teammate Javaris Crittenton.

The two got into an argument after a card game and Crittenton allegedly said he should shoot Arenas in his surgically repaired left knee, sources said.

Days later, Arenas, a notorious practical joker, reportedly placed the guns on a chair next to Crittenton’s locker with a note instructing him to “pick one.”

More details as the story develops