Garnett takes discount

Kevin Garnett has agreed to a three-year, roughly $60 million contract extension with the Boston Celtics that will kick in after the two years remaining on his current deal are up, according to the Globe’s Peter May. That number, ESPN.com’s Marc Stein reported, includes $51 million in salary for three seasons beginning in 2009-10 and $8.8 million in trade bonuses that will be spread out over the next five years.

The deal (a complicated transacton Stein dubbed an “extend-and-trade”) represents a discount for the Celtics over what Garnett could have demanded. Garnett was eligible for three years and $90 million with bonuses.

The details of Garnett’s salary, according to Stein:

  • $22 million in 2007-8
  • $23 million in 2008-9
  • $14.7 million in 2009-10
  • $17.1 million in 2010-11
  • $19.5 million in 2011-12

    His salary in each of those years will rise by $1.75 million to account for the trade kicker.

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