Jason Terry  is instant offense. He’s a scoring threat who can knock down shots and create off the dribble. Terry has a championship pedigree and is fearless in the same kind of way Sam Cassell was fearless with the game on the line. He’s also versatile enough to play the point as a backup.
Yahoo’s Marc Spears reports that the Celtics  have reached an agreement  on a three-year deal for the 13-year veteran for the full mid-level exception, which would pay him a little more than $15 million over the life of the contract. Players can’t officially sign contracts until July 11 when the league completes its audit.
With the Celtics, Terry would solve two pressing issues for the Celtics as a scoring guard off the bench and a backup for Rajon Rondo  at point guard. The downside is that Terry will be 35 years old when the season begins and he shot 43 percent from the floor last season, his lowest mark since the 2003-04 season.
Signing him for three years is a calculated gamble, but it may have been the cost of doing business in a scoring guard market that includes Jamal Crawford , O.J. Mayo, Lou Williams and Ray Allen .
Working in Terry’s favor is the fact that he has never played fewer than 74 games in a full season during his career and he’s missed only 16 games the past five seasons. He averaged 15.1 points per game with the Mavs last season and was the NBA’s top Sixth Man in 2009.
As for Allen, this doesn’t immediately close the door on a return. The Celtics have insisted that they wanted to bring Allen back and use the full mid-level on a player like Terry. Their reasoning is that second-year guard Avery Bradley  is coming off shoulder surgery and they need depth to survive the 82-game season. Allen is scheduled to meet with Miami on Thursday and the Clippers on Friday and it’s been reported that he will take his time making a decision.
Deals can’t be official until July 11 when the league completes its internal audit, but as it stands the Celtics would have roughly $50 million committed to eight players including Kevin Garnett , Terry and their first round draft picks. With Jeff Green  and Brandon Bass  still unsigned, they have work to do to complete the roster.
The magic number is $74 million, as explained here . The Celtics can’t go over that mark and use the full mid-level.