Celtics honor final year of Paul Pierce’s contract at $15.3 million

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The Celtics had until Sunday at midnight to make a decision on Paul Pierce’s contract, and NBA source said the club will honor the final year of his deal at $15.3 million to facilitate the blockbuster deal with the Brooklyn Nets.

The Celtics are expected to send Pierce, Kevin Garnett and Jason Terry to the Nets for Gerald Wallace, Kris Humphries, MarShon Brooks, Keith Bogans, and Kris Joseph and first-round picks in 2014, 2016, and 2018 and the right to swap first-round picks in 2017.

While the Celtics may have considered buying out Pierce’s contract at $5 million if not for the trade, they will guarantee the deal and send that contract to the Nets.

The Celtics also waived swingman Terrence Williams.

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