Garnett agrees to a discounted extension

<span class="spacing"><div id="post_message_4936324"><font face="Tahoma"><font size="2"><font color="Green">Green pay: Garnett cashes in with extension worth $60M</font></font></font>

<table border="0" cellspacing="0" cellpadding="6" width="100%"> <tbody><tr> <td class="alt2" style="border: 1px inset "><font face="Tahoma"><font size="2">Kevin Garnett has already given his new team something substantial.</font></font><font face="Tahoma"><font size="2">

</font></font> <font face="Tahoma"><font size="2">A discount.</font></font><font face="Tahoma"><font size="2">

</font></font> <font face="Tahoma"><font size="2">To clinch his Tuesday trade to the Boston Celtics, Garnett agreed to a three-year contract extension worth just over $51 million.</font></font><font face="Tahoma"><font size="2">
</font></font> <font face="Tahoma"><font size="2">Kevin Garnett's wearing of the green includes a significant deal to remain in Boston.

</font></font> <font face="Tahoma"><font size="2">By extending his current contract and eliminating the early termination option that would have allowed him to be a free agent after next season -- in a complicated transaction best described as an "extend-and-trade" -- Garnett also earned $8.8 million in trade bonuses that will be spread out evenly over the next five seasons, taking the value of the extension to $60 million.</font></font><font face="Tahoma"><font size="2">

</font></font> <font face="Tahoma"><font size="2">Garnett, 31, was eligible for a three-year extension worth nearly $90 million including trade bonuses.</font></font><font face="Tahoma"><font size="2">

</font></font> <font face="Tahoma"><font size="2">Salary figures obtained by ESPN.com show that Garnett's salary will be $14.7 million in the 2009-10 season, $17.1 million in 2010-11 and $19.5 million in 2011-12, when he'll be 36. Garnett was already scheduled to earn $22 million and $23 million over the next two seasons.

</font></font> <font face="Tahoma"><font size="2">(For salary-cap purposes, however, his salary in each of those years will jump by $1.75 million to account for the trade kicker, making it $23.75 million for 2007-08, $24.75 million for 2008-09, $16.4 million for 2009-10, $18.8 million for 2010-11 and $21.2 million for 2011-12.)</font></font>
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Barring any injury he should still be playing at a decent level when hes 36, nice move by the Celtics.

 

I wonder? Do the Celts have enough players to field a team after the trade for KG? Ainge may need to suit up again. lol.

 

The Celtics possess the MLE, LLE, and can sign players to the veteran's minimum.

 

Great deal for the Celtics, as I said earlier he still will be worth 20 mil at the end of his deal.

 

The news keeps getting better. Not only do we get the best big man in the east, but we get him on sale!

 

<div class='quotetop'>QUOTE (Denny Crane)</div><div class='quotemain'>

Anyone but me think he's going to look really strange in green?</p>

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NotasweirdastheBullswearinggreenjerseys.You'rejustjealous.</p>

 

<font color="#000080">I would have considered front loading that contract. KG is a hell of player but 5 years from now when he is 36 paying him 20 mil might cause some problems. Better to pay a guy in his 30's more now rather than later. The contract that he signed though is nice since he didn't go over the top.</font>

 

Yeah. They should have front-loaded it [KG would have had no issue with it] since after the contract is over, it will not matter that his next contract cannot exceed 110.5% his current since no one is going to sign him to 18M per deals in five years.