According to Shams Charania of ESPN, the Boston Celtics have signed a two-year, $44.2 million contract extension. The deal will tack onto his current contract and includes a mutual option for the 2029-30 campaign.
The 29-year-old guard still has two years left on his current deal at $7.8 million for the 2026-27 season and $8.3 million for the 2027-28 season. Then, the first year of his new, two-year contract kicks in (at around $22.1 million in average annual value).
The mutual option in 2029-30 means both parties must agree for the contract to be guaranteed. It's effectively a team option and a player option rolled up into one.
Pritchard earned Sixth Man of the Year honors in 2024-25 and took another step up last season, improving his counting stats across the board. Next year, he should have yet another chance to improve.
Last season, Pritchard averaged 17.3 points, 3.9 rebounds, and 5.2 assists while shooting 47.2% from the floor and 37.7% from deep on 7.1 3-point attempts per contest.
Based on the limited sample size (one preseason game against the Philadelphia 76ers), it seems as though Pritchard could end up coming off the bench this season. But with how many offensive creators the Celtics will already have in the starting lineup, that could let him thrive even more in an on-ball role.
BSJ Analysis
This is phenomenal value. For the fourth time this summer, Brad Stevens has signed a player to a contract that looks like an absolute steal. Ron Harper Jr., Jordan Walsh, Neemias Queta, and now, Pritchard.
By the time the mutual option kicks in, Pritchard will be 32 years old. From the Celtics' perspective, that's a perfect time to step back, evaluate any potential decline, or adjust roster construction.
It's important to note that Pritchard has two more years on his current deal. This new money won't kick in until 2028-29. That point can't be stressed enough, because it's a big reason this extension is so solid.
Looking at this from a percentage standpoint rather than raw dollar bills makes the contract even better. In the first year of Pritchard's new deal, his $22.1 million will account for roughly 12% of the cap.
For context, 12% of the cap this year is around $20 million. Here are some guys making that much money: Peyton Watson, Josh Hart, Ivica Zubac, Kyle Kuzma, Malik Monk, and Shaedon Sharpe. I'd say that's a pretty fair group to place Pritchard in, especially considering we're also talking about three years out.
That season, the first year of his extension, Pritchard will be 31. But he'll also be playing on what is effectively an expiring contract. Because of the mutual option.
So, let's say Pritchard does decline. Let's say he runs into the same problems that so many small guards have run into before when they get older. Well, in the first year he makes any real money, the Celtics would have just $22.4 million in tradable, expiring salary.
But realistically speaking, Pritchard hasn't shown any sign of decline. And his 3-ball and off-ball abilities should allow him to age pretty gracefully, even for an undersized guard.
So, this deal lets Pritchard lock up a guaranteed $22.1 (ish) million, lets the Celtics keep their ever-evolving point guard under contract for an extra year, and lets the front office mitigate any real long-term risks.
In all honesty, this is probably an underpay. Even if Pritchard doesn't get any better -- which seems extremely unlikely -- you're still talking about a guy who can handle the ball, shoot 38% from deep on high volume, and set up your offense. That's not easy to find rolled into one.