Pierce staying with Celtics

QMI Agency

, Last Updated: 11:12 PM ET

The Boston Celtics and forward Paul Pierce have reportedly reached an agreement on a new contract.

The Boston Herald reports the sides reached an agreement for four years, with options for the club and Pierce after the third year. Pierce opted out of his contract for next season and became an unrestricted free agent when the NBA free agency period started Thursday. However, no signing can become official until July 8.

Pierce was due to make $21.5 million US in the final year of his previous contract, and the Herald reports that he will make less than that in 2010-11 to give the Celtics a better financial position.

Pierce, who will be 33 before next season begins, averaged 18.3 points and 4.4 rebounds over 71 games during the 2009-10 campaign. He upped that to 18.8 ppg and 6.0 rpg during the playoffs, helping Boston reach the NBA final for the second time in three years.

Blake to Lakers

The Lakers have reportedly reached an agreement with free agent guard Steve Blake on a four-year contract worth $16 million.

The pact, reported by the Los Angeles Times, can’t be finalized until the free agency moratorium is lifted next Thursday. It would provide clear insurance should veteran and fellow free agent Derek Fisher sign elsewhere. Fisher is seeking a two-year contract worth at least $10 million, according to the paper.

Gay accepts Grizz deal

Free-agent forward Rudy Gay has accepted a five-year, $82 million deal to remain with the Memphis Grizzlies.

The 6-foot-8, four-year NBA veteran has career averages of 17.4 points, 5.5 rebounds, 1.7 assists, all with the Grizzlies. He scored 19.6 points a game last season.

“I want to win, and I want to do it here,” Gay said. “My whole thing is to progress. We have to make some upgrades, but I like where we’re headed.”

While teams and players are currently free to negotiate, contracts cannot officially be signed until next Thursday.

Gay is a restricted free-agent, meaning Memphis could match any offer presented by another team. But since Gay already plays for the Grizzlies, they were allowed to offer the 23-year-old more money than any other club.

Suns sign Frye, Warrick

Amare Stoudemire’s days in Phoenix appear to be numbered, as the Phoenix Suns have reportedly re-signed forward Channing Frye and added free agent Hakim Warrick to the frontcourt.

Per a report by the Arizona Republic, Frye has reached a five-year, $30 million deal with the Suns.

Frye, the eighth overall selection in the 2005 NBA draft, averaged a career- high 27 minutes during the 2009-10 campaign, his first season with the Suns. He came into his own as a three-point threat in the high-octane offence, shooting 43.9% from long range and scoring 11.2 points per game.

The 6-foot-11 University of Arizona product spent the first two years of his career with the Knicks, then had a pair of forgettable seasons for the Trail Blazers.

The 27-year-old owns career numbers of 8.9 points and 4.7 rebounds over 359 games.


Photos