According to the Boston Herald:

Tony Allen and Eddie House are staying in the fold.

According to Danny Ainge, the Celtics have agreed to terms with each on two-year contracts.

Ainge would not be specific on the financial figures, but according to a source, both are being paid in the mid-$2 million range.

In the case of House, the money is roughly half the mid-level exception of $5.585 million.

The Celtics did not have to use any of the mid-level on Allen, because he has been with the club four years and the team thus has his “Bird rights.”

It’s nice to finally get something done.

On House: I’ve been one of those fans that have called for a backup point guard that can be more trusted handling the ball, but I’m certainly not going to complain about Eddie House staying in green. He’s a true professional, he brings a ton of energy, and he was a vital piece to our 2008 NBA title. Take away a couple spot-up jumpers from House, we may not be all smiles at this point in time. At two years just over $2 million per, that’s a very reasonable price. Welcome back, Eddie.

On Allen: This is where some skepticism kicks in from my end. Tony Allen is certainly a terrific perimeter defender, and when he has received significant playing time, he has played excellent ball for the C’s over the past four years. However, with that said, he’s no James Posey. Allen is listed at a generous 6′4” and certainly cannot defend the same kind of players that Posey could (tall, long, strong forwards). Allen is a two-guard. This team needs a big small forward. Could Tony Allen and J.R. Giddens going to cut it in 2009?

All in all, I’m not disappointed. While I’m still looking for Ainge to go out and pick up a veteran small forward to fill the void, we still have the financial flexibility to do so. With Allen’s salary attributing to Bird rights and not cutting into the mid-level exception, the C’s will still have roughly $3 million to spend this summer.

UPDATE: From Marc Spears

The Celtics agreed to terms with guards Eddie House and Tony Allen to return, general manager Danny Ainge announced today. Both will get two-year contracts (though House’s second year is a player option, according to an NBA source). House’s deal was made using a portion of the team’s $5.5 million mid-level exception. According to the source, House will make $2.7 million next season and $2.9 million the year after if he excercises his option.

House, who will enter his second season with the team, averaged 7.5 points and 19 minutes per game during the regular season, but those averages dropped to 2.5 points and just under 8 minutes in the postseason.

Allen agreed to a two-year guaranteed deal paying $2.5 million each year, according to a league source. Since the Celtics had Allen’s Bird Rights, they didn’t have to use the mid-level exception to re-sign him. Allen, who will enter his fifth season in green, averaged 6.6 points and just over 18 minutes per game during the regular season and 1.3 points in about 4 minutes per game in the playoffs.

There are some new, interesting rumors floating around the internet regarding the Boston Celtics’ activity in both the free agent and trade market. The trade rumor comes from Hacksaw of AM 570 KLAC:

The Boston Celtics have approached the Lakers about a deal for young backup forward Trevor Ariza.

Ariza would be an interesting pickup, as he is young, very long, athletic, and a skilled defensive player. In his Orlando days, if you remember, Ariza was always the guy that gave Paul Pierce some problems with his defensive activity and length. He could certainly fill a role for this team coming off the bench, and he would financially make sense as well, as his contract comes off the books next summer.

However, trying to break down a trade scenario involving this Boston Celtics team is one tough task. Would this hypothetical Ariza deal call for a sign-and-trade involving Eddie House? Tony Allen? With Ronny Turiaf leaving for Golden State, could the Lakers be interested in Leon Powe and/or Glen “Big Baby” Davis? No matter how legitimate this rumor may or may not be, it’s an intriguing tidbit to think about.

Hacksaw also mentions some other names that the Celtics have shown interest in:

The Boston Celtics, who lost James Posey, are talking to free agents Maurice Evans of Orlando, Matt Barnes of Golden State, and Ryan Gomes of Minnesota.

UPDATE: Barnes is reportedly close to signing with Phoenix, so scratch him off the chalk board. One year at the minimum, too. Figures.

Finally, Jessica Camerato of HOOPSWORLD sheds some light on the possibility of bringing in Mavericks free agent swingman Devean George.

Just a month after winning their 17th NBA Championship, the Boston Celtics suddenly looked vulnerable after losing swingman James Posey to the New Orleans Hornets. After refusing to tack on a fourth year to Posey’s contract, the Cs are in the hunt to find another athletic perimeter player to come off the bench. According to the Dallas Morning News, Devean George could be their guy.

George, an unrestricted free agent, has reportedly garnered interest from the Celtics, Cleveland Cavaliers, Minnesota Timberwolves, New Orleans Hornets, Phoenix Suns, and San Antonio Spurs. The Mavericks could also re-sign George for more than a minimum contract since he was on the team last season, but word is Mavericks president Donnie Nelson isn’t banking on bringing him back.

Like Posey, George doesn’t demand major minutes and has championship experience — he was a reserve on three consecutive Los Angeles Lakers title teams. He also shares the same agent as Posey, Mark Bartelstein.

The question is, though, how would George fit into the Celtics strong chemistry? A key to their success was selflessness and George created a reputation for himself when he initially blocked the Jason Kidd trade to preserve his Bird Rights. Playing for a championship squad is a different story than going to a lottery team, and the Celtics have to find a replacement for the coveted sixth man spot before the free agent market thins out.

Come check out BBWForums.net, who I personally am co-administrator for, and our brand new homepage (just launched this afternoon). We have a terrific writing crew, which I am a part of, who posts constant sports updates as well as well-thought out opinion columns. You can also give our Forum a look-see, and join our outstanding community in daily discussion by Registering Here.

Marc Spears reports:

The Celtics’ championship celebration tour rolled into Los Angeles Wednesday night, where the Green were honored with the “Best Team” award during a taping of the ESPY Awards at the Nokia Theatre (which, ironically, sits in the shadow of the Staples Center, home of the Los Angeles Lakers, who the Celtics topped in the NBA Finals).

Among the attendees for the Celtics: Kevin Garnett, Paul Pierce, Ray Allen, Kendrick Perkins, Glen “Big Baby” Davis, Leon Powe, Brian Scalabrine, Gabe Pruitt, Sam Cassell, and James Posey (who, earlier in the day, inked a four-year deal with the New Orleans Hornets).

Photo Gallery

Beautiful. Congratulations [again], green!

Instead of harping on our free agent loss of James Posey, let’s buck up and take some time to feel good about our newest Boston Celtic, Patrick O’Bryant.

Comcast Sports Net has the video from today’s presser (4:15 in length), introducing O’Bryant (employee number 26). You can view that here.

Welcome to Boston, P.O.Box 26.

The James Posey era, while eventful and successful, has come to an end after just one year. We’ll miss the big shots. We’ll miss the lock-down defense. We’ll miss the all-out hustle. Heck, we’ll miss the pre-game hug ritual. With all of that said, good luck in New Orleans, James. It’s time for us to move on, and quickly.

To avoid beating around the bush, let’s just cut right to the chase and evaluate some of the potential replacement options available out on the free agent market.

Josh Childress (Atlanta)
While a long-shot, as he is a restricted free agent, Childress would be a terrific replacement for our old friend “Pose.” He’s freakishly long, he’s athletic, he’s versatile, he’s energetic, he’s disruptive, and most importantly, he’s just 25 years old. However, the Celtics have just the mid-level exception ($5.585 million) to offer him, and it is very likely that the Atlanta Hawks would match any offer of that magnitude. But hey, wishful thinking is always fun to ponder.

J.R. Smith (Denver)
It is extremely unlikely that Denver lets a high-upside swingman like Smith go, but crazier things have happened. Right, Marcus Camby?

Ryan Gomes (Minnesota)
Our good old pal Ryan Gomes is restricted as well, but you’ve got to imagine that Danny Ainge will at least give him a phone call. He may not be the defensive assassin that Posey is, but he’s “just solid” as Doc Rivers often described him during his two-year tenure in Boston (2005-2007). On top of that solidity, which is greatly appreciated coming off of any NBA bench, he’s a hometown favorite and an absolute gem of a human being. Gomes may be a bit of a long shot to return, but should that situation present itself, he’d be welcomed back home with open arms.

Bonzi Wells (New Orleans)
With James Posey signing with the Hornets, the writing is on the wall: buh-bye Bonzi. Wells is notoriously known as a “Celtic Killer” around these parts, but he could be a solid addition for a one or two-year deal. His work ethic and hunger has been questioned in the past, but we’ve seen many “questionable characters” turn into winners in Beantown. In a supporting role around stable veterans, it just might work.

Ricky Davis (Miami)
This is as much of a long-shot as anyone mentioned on this list, but if the C’s get a little desperate, who knows? As Kevin Garnett shouted to the world on the night of June 17, anything is possible. Would Doc Rivers take on the challenge of managing three superstars and Ricky Davis? Fat chance, but the bottom line is that Ricky D can score the ball and give both Paul Pierce and Ray Allen breathers.

Matt Barnes (Golden State)
This one seems to be the popular vote amongst Celtics fans at the moment. Barnes is no James Posey, but he has proven himself as a tough-minded role player that can provide a spark off the bench. Granted, there has to be a reason for him suiting up for five teams since 2003. Regardless, he’s scrappy and he probably comes cheaper than most free agent small forwards.

Bostjan Nachbar (New Jersey)
Nachbar is far from a defensive stopper, but he can shoot the ball and add some size to our second unit. His contract year was a bit of a disappointment, so it’s uncertain as to what type of contract he is seeking, but he’s likely one of the most talented small forwards on the market.

Maurice Evans (Orlando)
Evans is a walking Tommy Point, as his hustle is impeccable and his energy lights up the arena. He can provide a lift on both ends of the floor, and is a valid option as a spot-starter in case of injury or fatigue. As a fan, it’s hard to dislike Mo Evans.

Tony Allen (Boston)
Danny Ainge called Tony Allen last month and told him that if James Posey packed his bags, he’d be high on their to-get list. Well, Posey is on his way to The Big Easy and Tony Allen has yet to receive a formal contract offer. Did Danny sweet-talk “TA” to let him down easy, or was it legitimate? Time will tell.

Kirk Snyder (Minnesota)
Snyder isn’t a flashy pickup, but the Celtics have checked him out and reportedly have taken a bit of a liking to him. The story on Snyder is that he is a big time athlete and hustler, but he has yet to harness his potential on account of his low basketball IQ. That sounds like the second coming of Tony Allen, to me, but we all know that Danny will go out of his way to acquire players that he likes. If other options are scraped from our hands, Snyder could be one of those guys.

Michael Finley (San Antonio)
He’s getting a bit on the old side, but he can still score the ball and be a contributing supporting piece to a winning team. He could more than likely be had fairly cheap, as well.

Quinton Ross (Los Angeles Clippers)
Think Tony Allen, except taller, longer, more coordinated, and a higher basketball IQ. In other words, a lightweight Bruce Bowen. Ross is likely a Plan C option, but he can be had cheap and he can fill a defensive role with the second unit. He’ll never blow you away, but he’ll get the job done.

Darius Miles
Groan… Miles, a notorious lackadaisical “coach killer,” has not suited up for an NBA team since 2006. However, he reportedly was impressive in his Celtics workout and is further along physically than the Celtics had expected. I classify Miles as an unlikely last-resort Plan D pickup, but again, anything is possible.

It’s time to get down and dirty, Danny Boy. Make us proud again.

Marc Stein of ESPN.com reports:

The reigning NBA champions are about to lose their glue guy.

James Posey, arguably the most coveted unrestricted free agent left on the market, agreed to a four-year deal with the New Orleans Hornets on Wednesday worth an estimated $25 million, his agent, Mark Bartelstein, said.

Because of future luxury-tax concerns, Boston was apparently reluctant to offer Posey, 31, more than a two- or three-year deal starting at the league’s mid-level exception (just under $5.6 million) in spite of Posey’s considerable contributions to the Celtics’ first championship since 1986.

For four years at $25 million, I’m not quite as disappointed as I had thought I would be if Pose did indeed decide to go elsewhere. Regardless, this is a big loss and our version of “Big Game James” will be missed dearly.

There is a positive side to this, however. The Celtics do not have to commit long-term to an aging veteran, and they still have the full mid-level exception to use this summer. While the free agent pool is thinning out by the week, there is plenty of talent waiting to be directed towards a new home.

Stay tuned, C’s fans.

We all know that we are number one in terms of NBA team rankings. After all, we are the champions. In addition to that, we are number one on James Posey’s free agent destination list as well:

James Posey and Eddie House, key reserves in the Celtics’ NBA championship run last season, last night expressed a desire to remain with the team, in their first public comments regarding free agency.

“That’s my No. 1 choice,” said Posey. “I’ve stressed that to the organization and to everybody. At the same time, I’m still waiting. So we’ll see what’s going to happen.”

House and Posey were interviewed before a screening of a highlight DVD of the Celtics’ season at TD Banknorth Garden.

Steve Bulpett of the Boston Herald also got some words from Eddie House:

It’s the NBA offseason, another chance for Eddie House to sell himself. The Celtics are very much interested in keeping the free agent backup guard, but the fact they’d like to sign someone to a one-year contract for that slot might be problematic.

“Just feeling good about what’s going on, about the deal,” House said when asked what he was looking for in this contract. “You know, maybe getting some years and definitely getting a raise. I think that’s something that I do deserve after winning the Finals. I don’t think I played bad. I think I played well given the circumstances of not playing and then coming back in. So a little bit of a raise and just some security.

“My agent and Danny (Ainge) are talking and trying to get something that everybody can feel good about. That’s what’s going on right now.”

House is big on security, and that likely extends to the court, where he hopes to keep getting minutes.

“Of course you want to play,” he said. “You don’t want to go anywhere where you’re sitting on the bench, especially coming off winning a championship.”

House reiterated that he wants to remain with the Celtics, but it’s fairly clear the club will have other veteran options that could come in for a one-year deal and thus decrease the cost to the club on the luxury tax. The NBA reimburses teams a portion of contracts signed by veterans, making one-and-done deals attractive to clubs over the tax threshold.

In the case of the available Tyronn Lue, the fact he’s a close friend of Kevin Garnett won’t hurt his chances.

From Marc Spears:

Celtics forward James Posey’s agent, Mark Bartelstien, said Sunday that there could be “something” contract-wise for his client on Monday. Bartelstien would not divulge the interested teams, but an NBA source said that the Hornets seem to be Boston’s main competition. The Celtics seem willing to give Posey the full $5.5 mid-level exception, but it seems doubtful that it will be offered more than two years. The 31-year-old seems interested in getting a four-year deal. Other teams potentially interested in Posey include Detroit, Washington and Cleveland

I’m not so sure Bartelstien’s comments mean much of anything, as he has already said that something was going to get done very soon multiple times (ala the “24-hours” comment). However, Spears’ note about the Celtics unwilling to go over two years is very interesting.

In my opinion, the longer this drags out, the better it looks for Boston with each passing moment. Let’s face it - if Bartelstien’s scare tactic comments were indeed true, something would have been done already. Especially if Ainge is only willing to offer a two-year contract.

Marc Spears of the Boston Globe reports:

The Celtics have signed Warriors free agent center Patrick O’Bryant to a two-year deal, according to NBA sources. The 7-foot-0, 260-pounder was the ninth overall pick out of Bradley in the 2006 NBA Draft by Golden State, but played sparingly in two seasons. The Celtics worked out O’Bryant, who is expected to backup center Kendrick Perkins, a week ago at their training facilty in Waltham.

Very interesting; nobody saw this one coming.

O’Bryant is a big body, a legit seven-footer that we desperately have needed off the bench. His work ethic and dedication has been questioned by Warriors head coach Don Nelson, however, but he undeniably possesses some upside. In O’Bryant’s defense, he was never meant to succeed in an up-tempo system. Optimistically thinking, he could be a better fit in a limited role within a balanced system like ours. In addition, he now has some veteran mentors to look up to in Kevin Garnett and Kendrick Perkins, which he never had in Golden State. Not to mention, Clifford Ray has worked wonders with each and every one of our young big men over the past couple of years.

I wouldn’t get too excited about this, but we could have done worse. Why not take a flier on a guy like O’Bryant?

I am, however, curious about the financial aspect of this deal. Was is the minimum or the LLE? An update will be posted once available.

Side Note: I came up with a nickname for the big fella in 2006, and I now have the green light to use it - P.O.Box 26. Genius, I know.

UPDATE: Jeff Goodman of Fox Sports reports that it is a one year deal at league minimum, with a team option for the second year.

UPDATE #2: Marc Spears now reports that the two-year deal is worth $3 million, which amounts to the LLE and not the minimum.