Boston Celtics guard Jrue Holiday is from Los Angeles, but he's making himself at home in Beantown thanks to a four-year, $135 million contract extension.
🚨 BREAKING: Jrue Holiday has agreed on a 4-year, $135 million contract extension with the Boston Celtics, per @wojespn.
Holiday is declining his $37.3 million player option for 2024-2025 to sign this extension. pic.twitter.com/vu6m1jLdO0
— ClutchPoints (@ClutchPoints) April 10, 2024
On Wednesday night, Holiday's agent Jason Glushon announced that his client and the Celtics had agreed to terms on a deal, per ESPN insider Adrian Wojnarowski.
The 33-year-old guard was sent to the Portland Trail Blazers this offseason so that the Milwaukee Bucks could bring in eight-time All-Star Damian Lillard. But Holiday didn't stay long, as the Celtics quickly traded for him by giving up center Robert Williams III, reigning Sixth Man of the Year Malcolm Brogdon and a few picks.
The move has worked wonders for the C's, as they hold the best record in the NBA and locked up the No. 1 seed in the Eastern Conference in late March. Boston's talented starting five boasting Holiday, Jayson Tatum, Jaylen Brown, Kristaps Porzingis and Derrick White has largely dominated the regular season.
The Celtics are hoping for that success to translate to the postseason. Yet, the front office wanted to ensure that their intentions with Holiday were clear prior to the start of the playoffs.
So, what does this deal mean for Holiday and the organization as a whole?
Jrue Holiday believes in Boston
There are now 135 million reasons that prove why Holiday believes in this current Celtics squad. The veteran guard has been in the NBA for over a decade, and there's a fair chance the next contract he signed would be his last. If he's willing to stay in Boston for four more years, it shows that he has faith in what the Celtics have built this season and could see himself in Beantown for the long run.
Additionally, his extension does the front office a few favors. It saves the Celtics several million dollars in salary heading into an important offseason, as White is about to become an unrestricted free agent and Tatum has a 2025 player option. For Boston to bring those guys back, it'll need all the cap room it can get this summer.
Not including bonuses, Holiday had a base salary of $37.3M in 2024-25.
The first year of the extension will reduce his salary to $30M, saving Boston over $35M in luxury tax penalties. https://t.co/evfBYAWgQh
— Bobby Marks (@BobbyMarks42) April 10, 2024
Would a cheaper deal have made the front office even happier? Yes, but the two-time All-Star has played well enough this season to deserve an extension. Best of all, this deal keeps him happy and focused for the playoffs, which has worked before.
Holiday inked an extension with the Bucks in early April of 2021. Soon after that, he earned his first NBA championship by helping Milwaukee end its 50-year title drought. The Celtics will look to follow a similar pattern and capture their first ring in over 15 years.
Celtics' ownership is heavily invested in this core
Money isn't integral to NBA success, but it sure does help.
Celtics governor Wyc Grousbeck knows the potential of his franchise, and this deal proves once again that he's willing to invest in it. Although Brown's massive contract, Holiday's new extension, and possible spending sprees to come will likely put Boston in the second luxury tax apron, Grousbeck is ignoring all that for a championship.
The average owner has money to burn, obviously, but the Celtics don't have to look far to find a team like the Boston Red Sox, who've had promise yet haven't thrown much money at the roster in recent years. Having an ownership group that's ready to accept extra luxury taxes and fees can certainly aid in a team's growth and on-court success.
Evidently, Grousbeck and company are placing their bets and going all in on the 2023-24 Celtics. All that's left to do is to see whether or not the team can get over the hump this postseason and deliver banner No. 18 at last.
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