July 14, 2006 Pierce's deal has been agreed upon by both the Celtics and Pierce's agent and has been sent to the league offices for approval. Neither side expects there to be any problems with the deal.
After Pierce completes the final two years of his present contract (giving up an opt-out next summer to do so), the three additional years will be for a total of $59,387,127.
This should put to rest most of the trade rumors that have been circulating about Pierce. Giving him the extension proves that they plan to keep Pierce and continue to build around him.