Jrue Holiday and the Boston Celtics agreed to a four-year, $135 million contract extension, agent Jason Glushon of Glushon Sports Management announced Wednesday.
The two-time All-Star guard opted to decline his $37.3 million player option for 2024-25 to sign a multi-year deal that’ll take him through the 2027-28 season, per Glushon.
Holiday’s current contract is the four-year, $135 million deal he signed with the Milwaukee Bucks in April 2021. His deal with Milwaukee included $23.23 million in total incentives.
Referring to a few NBA betting sites, the Celtics remain the odds-on favorite to win the championship. Sportsbooks are still showing great odds for the Denver Nuggets, Los Angeles Clippers, and Bucks.
BREAKING: After arriving in a blockbuster offseason trade, Boston Celtics guard Jrue Holiday has agreed on a four-year, $135 million contract extension, his agent Jason Glushon of @GlushonSM tells ESPN. pic.twitter.com/Llln2yczSI
— Adrian Wojnarowski (@wojespn) April 10, 2024
Per Spotrac, Holiday will become the fourth player to sign a guaranteed deal worth more than $100 million at 33 or older — joining LeBron James, Stephen Curry, and Al Horford.
This move also saves the Celtics cap space. Excluding bonuses, Holiday had a base salary of $37.3 million in 2024-25. The first year of the extension will reduce his salary to $30 million, saving Boston over $35 million in luxury tax penalties.
Boston Celtics offered Jrue Holiday the contract extension to remove $5.7 million of bonuses
According to ESPN’s Bobby Marks, the benefit of Holiday’s extension is that Boston eliminates $5.7 million of likely/unlikely bonuses that would have counted toward the first/second apron.
The Celtics acquired Holiday in a trade with the Portland Trail Blazers in October for center Robert Williams III and 2023 NBA Sixth Man of the Year guard Malcolm Brogdon.
Portland also received a 2024 first-round pick via Golden State and a 2029 first-round pick.
“Right when I got traded, [Celtics coach Joe Mazzulla] was the first person sending me clips; what to do on pick-and-roll defense, how to run the offense, things like that,” Holiday said during his introductory press conference.
The benefit from the extension is that Boston eliminates $5.7M of likely/unlikely bonuses that would have counted toward the first/second apron.
Celtics now have wiggle room to get under the apron at the trade deadline if…