BOSTON - JUNE 13: Paul Pierce #34 of the Boston Celtics celebrates after a play against the Los Angeles Lakers in the fourth quarter during Game Five of the 2010 NBA Finals on June 13, 2010 at TD Garden in Boston, Massachusetts. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. The Celtics won 92-86. (Photo by Elsa/Getty Images)

Paul Pierce Officially Re-Signs With Boston Celtics

Paul Pierce has been with Boston since the team drafted him in 1998, and it looks like the 12-year veteran will retire a Celtic after he reportedly agreed to a new four-year, $61 million deal with the club Saturday.

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Source: Paul Pierce Finalizes Four-Year Deal With Celtics

The few days of uncertainty regarding Paul Pierce re-signing with the Celtics is seemingly no more. A source has told ESPN's Ric Bucher that Pierce has agreed to a four-year, $61 million deal with Boston. Additionally, the source said that the tricky fourth year is fully guaranteed.

It is not immediately known if a no-trade clause is included in the deal, "which Pierce is eligible for by virtue of having at least eight years of service time and four with the same team."

ESPN Boston's Chris Forsberg reminds that the deal cannot be official until July 8.

Let's be honest, did we ever expect Pierce to walk away? The 12th-year veteran is synonymous with Boston and even when he opted out of his deal earlier this week, walking away from $21.5 million, it seemed unfathomable that he could end up in any other city. [...]

And while we all expected Pierce back, the Celtics can breathe a sigh of relief because there was no quality Plan B. If Pierce had walked away, the team would have been bound by the salary cap and it was unlikely they could have secured a player of his talent -- at least without cutting ties with Allen as well -- particularly in this deep-pocketed market where free agents are receiving head-shaking amounts of money early in the process. It might only get worse as the pickings get slimmer for cash-gushing teams that spent much of the past season clearing space to lure a superstar, but could get left scraping for whatever is leftover.

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Source: Paul Pierce's Deal With Celtics Is Not Done Yet

While reports differed on Friday as to whether or not the fourth year was guaranteed, one thing that seemingly everyone could agree on was that Paul Pierce had indeed reached a new deal with the Celtics. But now, "according to sources with firsthand knowledge of the negotiations," there has not yet been an agreement between the two sides, and Friday saw "little progress made."

The Pierce camp would like a four-year, fully guaranteed deal at about $15 million per season, but the Celtics are haggling as to whether to fully guarantee the fourth year, which would end the contract when Pierce is 36.

The sides have been talking since Pierce opted out of the final year of his contract, worth $21.5 million, late Tuesday night. Pierce, according to those close to the situation, has not negotiated with another club. The sides can only agree on a deal at this point; free agent contracts cannot be officially signed until July 8.

But we already know that Pierce has not negotiated with any other teams, so should this be a point of concern for Celtics fans? CelticsBlog says no.

I fully expect the two sides to reach an agreement before July 8 (when free agents can officially sign with teams), and I wouldn't even be horribly opposed to the fourth year being guaranteed, as long as Pierce knows he might be part of a rebuilding process in the last one or two years of the deal (unless Ainge can rebuild on the fly over the course of the next few years, with Pierce obviously taking a lesser role as new players are brought in. I certainly wouldn't be shocked if Danny found a way to make that work). 

In terms of cap space in four years, as of right now, if Pierce does sign a deal that would pay him roughly $15 million per season, only his and Rondo's contracts would be on the payroll, totaling about $27 million. Even though a new Collective Bargaining Agreement (CBA) will be negotiated on at the end of next season, if the salary cap heading into the 2013-2014 season resembles anything close to the projected $56 million salary cap for next season, the C's will still have about $30 million in cap space to sign other players. But, it seems safe to say other moves will take place in between now and then, so I'm sure we'll see more than just Rondo and Pierce signed to deals at that point. 

Will the Celtics be overpaying for Pierce in three of four years? Perhaps. But, I don't think it's outlandish to say Pierce has at least two very good seasons left in him, if not three, depending on how kind Father Time is to him. So, for the next two years you could argue that the C's are getting Pierce at a quality price, and he's still going to serve as one of the key cogs for a team that seems to be aiming towards remaining contenders for the championship for at least the next two seasons.

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Source: Paul Pierce's Re-Signs For Four-Years, $61 Million

While financial details regarding Paul Pierce's new contract with the Celtics have not been released, and likely won't be until the contract becomes official per league rules on July 8, Jeff Goodman of Fox Sports is reporting that it is less than a max deal: "According to a source close to the Celtics, Pierce's new contract is a 4-year, $61 million deal." That would break down to an average of $15.25 million per season (significantly less than the $21.5 million he stood to make in 2010-11 per the terms of his old deal).

Goodman also quotes the same source as ssayingg all four years will be guaranteed, which differs than what the Herald reported, which is that the fourth year is a team option.

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Paul Pierce Reportedly Agrees To Four-Year Deal With Celtics

Paul Pierce has been with the Celtics his whole career, and it looks like it will stay that way after the two sides agreed to a new contract, the Boston Herald reports. 

The Celtics opened talks with Pierce Thursday night, and they clearly went well, because by Friday morning, it was being reported that they had reached a four-year deal, with the first three years guaranteed. Nothing can be made official until July 8, per league rules.

No financial details were made available, but Pierce will be making less than the $21.5 million he was set to earn in the 2010-11 season before opting out of his previous contract, a move he made in hopes of securing a longer deal. Looks like it worked out nicely for him.

Head over to CelticsBlog for fan reaction.

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Report: Celtics 'Expect To Re-Sign Pierce'

It wasn't very surprising Tuesday night when Paul Pierce decided to opt out of the final year of his contract with the Celtics. And it's equally unsurprising to learn less than 24 hours later that the team expects to re-sign the 12-year veteran, this according to "multiple sources" close to Boston, reports ESPN's Andy Katz.

According to the sources, the Celtics expect the Pierce deal to be wrapped up sooner than later but free agent Ray Allen could take longer into the summer. The Celtics also have to decide what to do with free agents/reserves Tony Allen, Nate Robinson, Shelden Williams, Marquis Daniels and Brian Scalabrine.

As we've said before, this summer promises to be a busy one for the Celtics.

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Report: Celtics' Paul Pierce Will Opt Out Of His Contract

Marc Stein and Chris Sheridan of ESPN.com are reporting that Celtics guard Paul Pierce has decided to opt out of his contract. Stein had it first on Twitter.

Just filed to ESPN.com: Celtics' Paul Pierce is opting out, too. Has notified Celts he'll become unrestricted free agent. Link forthcomingless than a minute ago via TweetDeck


Stein's report was followed shortly thereafter by a similar one from Sheridan.

Paul Pierce is opting out of his contract, his agent says. Story by myself and Marc Stein upcoming on ESPN.com.less than a minute ago via web


The decision wasn't entirely unexpected but it has drawn a few questions from Greg Payne at CelticsBlog.

It remains unclear what Pierce's intentions are at this point. Is he opting out in order to work out a new extension? Or is he opting out in order to legitimately test the free agent waters?    

Head over to SB Nation's CelticsBlog where the discussion is already going strong.  

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