UPDATE (via Fox Sports Jeff Goodman)
According to a source close to the Celtics, Pierce's new contract is a 4-year, $61 million deal.
Source also told FOXSports.com that all four of Pierce's years on his new deal will be guaranteed.
I think we were all hoping that fourth year wouldn't be guaranteed. But with the money being thrown around yesterday, I'm not surprised if Danny was forced to do it.
According to Ken Berger of CBS -
One of the key issues still to be resolved is the guaranteed amount in the fourth year, sources said. Pierce will turn 37 in the fourth year of the deal.
....
Of course... he never really left, did he? According to the Herald, Paul and the C's have reached a deal.
Paul Pierce will remain a Celtic.
The club has reached agreement with its captain on a new contract, according to sources. The deal is said to be for four years, with only the first three fully guaranteed.
The papers cannot be signed or officially announced until next week.
The report says no numbers are available... but did say Pierce will make significantly less than the $21 million he was owed this year. It'll be for 4 years, 3 guaranteed.
See? You were worried about nothing. Ray is next.
More details as they emerge.