The Celtics and Paul Pierce have officially agreed to a four-year extension, a source close to the negotiations told the Boston Globe just minutes ago.
Pierce will remain and likely retire a Celtic and the club can now focus their concentration on re-signing Ray Allen. Pierce is the third all-time leading scorer in club history, will surpass the 20,000-point mark next season and is an eight-time All-Star.
He opted out of his contract Tuesday night, hoping to give the Celtics a hometown discount with the return of a longer contract and security. Pierce walked away from $21.5 million but will earn an additional $40 million and give the Celtics a small amount of cap relief. Pierce cannot official sign the contract until Thursday, but any questions about his future with the Celtics have been answered.