Paul Pierce and the Celtics agreed to terms on a three-year contract extension today worth approximately $59 million, moving the team captain one step closer to his frequently stated goal of finishing his career with the franchise and raising his No. 34 to the rafters. Executive director of basketball operations Danny Ainge and the Celtics are awaiting league approval on the deal.
When combined with the terms of his current deal, the extension keeps Pierce under contract for the next five seasons, meaning he likely will spend the prime of his career in Boston. Pierce entered negotiations with one year guaranteed remaining on his contract plus a player option for 2007-08. Under the collective bargaining agreement, players can only sign extensions that keep them under contract with their current team for five years, making a three-year extension the maximum allowable for Pierce. When the extension expires, Pierce will have finished his 13th NBA season and be months shy of his 34th birthday