July 13, 2006 According to the Boston Herald Pierce and the Celtics have reached an agreement that would extend Pierce's contract for 3 years as well as assure the player option on the end of his current contract. The Globe says the extension is close. So depending on which paper you believe, Pierce is either locked up or very close.
LAS VEGAS - Paul Pierce and the Celtics have reached agreement on a contract extension, a vital step for the club at this stage of its development.
Sources last night said the agreement was essentially completed late yesterday and that an announcement is forthcoming.
Danny Ainge said earlier yesterday that the sides were “just ironing out some of the final details,” and he reiterated that last night. But, according to a source, the largest of those issues were apparently resolved before Pierce’s agent, Jeff Schwartz, left Las Vegas in the late afternoon. It is known that Ainge and Schwartz spoke again yesterday. [More] source: Boston Herald
Whoa, 60 million for 3 years is a whole lot of money. If Ainge trades for Iverson, we'll have roughly 40 million tied up to 2 players every year. And if the cap is 53 million, that leaves 23 million for the rest of the 12 or 13 players on the team. That's like 2 million per person. I know that Jefferson, Gomes, Perkins, Telfair, Delonte, Rondo, etc. are going to be worth more than 2 million per year.
How is this going to work? We better not be trading for Iverson.
Sorry, my math is wrong (how embarrassing). If the cap is 53 mil, that leaves just 13 million for the rest of the 13 players on the team, which is just a million per player. That certainly is not going to work.
The 20 mil doesn't kick in until 2 years from now and I am sure the cap will be higher then. But if they do think they are going to bring in Iverson or another max player then the owners better get ready to pay some luxury tax because we are getting away with paying our kids rookie contracts now but they are going to want more when those are up.