The Boston Celtics have agreed to terms with forward Paul Pierce on a three-year contract extension worth almost $60 million, pending league approval.
Terms of the extension weren't released, but will reportedly be for three years and about $59 million. The NBA office must approve the deal before it can become official.
The Celtics said the former Kansas University standout was scheduled to have minor surgery on his left elbow in August. He should be ready for the start of training camp, but will miss this month's USA Basketball training camp.
Signing Pierce to a three-year extension will take him through the end of the 2010-11 season. He still has two years left on his present deal.
In terms of the financial stats, the Boston Herald reports that Pierce will complete his last contract by making $15,101,625 this season and $16,360,094 in 2007-08. The new portion of the pact will pay him nearly $60 million for three years.