The Boston Celtics have come to terms on a four-year contract extension with guard Jrue Holiday, according to ESPN’s Adrian Wojnarowski. The deal will keep the former All-Star in the Hub through the 2027-28 season.
Holiday joined Boston during the 2023 offseason by way of trade a few seasons after earning a championship ring with the Milwaukee Bucks in 2021. Holiday has made an instant impact since becoming a member of the Celtics. He is one of the club’s featured defenders, and one of its most effective offensive weapons. Importantly, the deal not only helps secure Boston’s core for the future, but also has some helpful financial considerations for the team in the short-term, too.
Let’s look a bit closer and break down the most essential things to know about Jrue Holiday’s contract extension with the Boston Celtics.
The price
The deal is reportedly worth four years and $135 million. Holiday had to decline his $37.3 million player option for next season in order to extend in such a way.
Instead, Holiday is signing a longer, more lucrative deal. In doing so, he joins LeBron James, Steph Curry, and his current teammate Al Horford as the only players 33 years or older to land a fully-guaranteed contract worth more than $100 million. Holiday turns 34 this June.
The basketball
Nov 19, 2023; Memphis, Tennessee, USA; Boston Celtics guard Jaylen Brown (7) and center Kristaps Porzingis (8) help guard Jrue Holiday (4) up during the second half against the Memphis Grizzlies at FedExForum. Mandatory Credit: Petre Thomas-USA TODAY Sports
Holiday is one of basketball’s best defensive guards. He has been named to one of the NBA’s All-Defensive five times in the last six years. And while physicality and athleticism are an important part of his game, much of his defensive prowess is thanks to quick hands and smart body positioning. Much like Celtics fans have seen with Horford, Holiday should age gracefully on this side of the ball.
On offense, Holiday is a great complimentary player. Holiday is an excellent passer and moves well off-ball. The former UCLA Bruin is shooting 43% on 3-pointers this year, including 62% on corner 3s, the best mark in the NBA. His passing and shooting should also both age well, and he’s shown an ability to play alongside and elevate All-NBA teammates.
The finances
By signing a longer deal, Holiday’s new projected annual salary drops to about $30 million next season, according to ESPN’s Bobby Marks. Because Boston will be a second apron team, these savings will be amplified greatly and reduce the club’s tax apron overall.
Celtics governor Wyc Grousbeck has said before he and the team’s ownership group aren’t worried about footing an expensive roster. That said, the NBA’s new CBA has created stiff penalties on spending around team building on top of an existing the luxury tax for expensive payrolls.
Any way to bring overall roster spending down at this level is helpful. The new Holiday extension slightly relaxes the team’s overall financial obligations and maximizes its flexibility for adding to the team if necessary.
The future
After the 2024-25 season, it’s unclear what direction the team will take. The team also extended Kristaps Porzingis and Jaylen Brown last summer, and a new deal for Jayson Tatum is expected as well. Boston’s core starters will remain with the team, although future deals for Derrick White and other key role players may be more difficult.
That said, every team in the NBA will be facing a crunch under the league’s new financial rules. That Boston has been able to creatively put such expensive pieces together without yet compromising depth is a marvel of roster design.
Any future inelasticity in this department is probably a worthy tradeoff at this point. Boston is, at the time of this writing, heavily favored to win the 2023-24 NBA title.
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