Kamil Krzaczynski-USA TODAY Sports
Celtics, Kristaps Porzingis Agree to 2-Year, $60 Million Extension
At Thursday's introductory press conference, Kristaps Porzingis made clear he wants to be a Celtic beyond the coming campaign.
"The opportunity to play for a really good team already and to be able to add to that. And hopefully, to help these guys, make their life easier, and being on a high-level organization like Boston, a historic franchise, iconic franchise, made it extremely easy for me to make that decision," he said of exercising his $36 million player option to help facilitate the trade bringing him to Boston.
The former All-Star told Inside the Celtics the following about the motivation of knowing his new franchise traded for him with the belief he can be the piece that puts them over the top in their championship pursuit.
"The most like, exciting feeling that you can get; just the idea of that. That's why, as I said, it made it super easy, and it made (it) my complete favorite option was to come here to Boston. And that fire that I got from that idea is gonna gas me up for the rest of the summer and for my time being here."
According to Chris Haynes of Bleacher Report, it's now structured for Porzingis' time with the Celtics to last beyond the coming season.
While it can't become official until July 6, the two sides have agreed to a two-year, $60 million extension, per Haynes.
Along with the deal itself, what's noteworthy about this is the former fourth-overall pick left money on the table. Porzingis could've signed an extension for the same length and up to $77 million.
While that won't create more cap space to help with Boston's efforts to keep Grant Williams, to whom it extended an $8.5 million qualifying offer on Thursday, it will make it easier for the organization to build future rosters.
Operating under the premise of the Celtics signing Jaylen Brown to a five-year veteran supermax extension in the immediate future and Jayson Tatum signing a five-year extension at max value next summer, both would come on the books for the 2025-26 season.
The franchise's All-NBA wings would account for roughly 70 percent of the team's cap space at that point. So, while a player leaving money on the table will help Boston in 2024-25, the organization will appreciate having that additional cap space even more in 2025-26.
Further Reading
Kristaps Porzingis Says Joining Celtics Was an 'Easy Decision'
Grant Williams Discusses Marcus Smart's Departure, Free Agency, and Recovery from Hand Surgery
The Latest Intel on Celtics' Restricted Free Agent Grant Williams
Jordan Walsh Discusses Getting Drafted by Celtics, His Welcome to Boston
Brad Stevens Shares What Compelled Celtics to Trade for Kristaps Porzingis
Brad Stevens Discusses Difficult Decision to Trade Marcus Smart: 'He'll Always Have Boston'
After Trading Marcus Smart, Acquiring Kristaps Porzingis, Where Do Celtics Go from Here?
Marcus Smart Felt "Shock" and "Hurt" Over Trade from Boston Celtics
