Pierce averaged 13.5 points and 4.6 rebounds with the Brooklyn Nets last season. The 16-year NBA veteran became a prime target for the Wizards after they lost free-agent forward Trevor Ariza to the Houston Rockets on Saturday.
Pierce was hoping to land a deal paying him $8 million to $10 million per year for at least two more seasons, sources said. The Nets thought those contract hopes for Pierce were too steep, one league source said.
Pierce, 36, will be playing for his third team in as many seasons after playing with the Boston Celtics from 1998-2013. His average scoring and minutes per game (27.5) last season were the lowest of his career.
The Celtics’ second all-time leading scorer will be taking a significant pay cut after completing a four-year, $61 million contract this past season. Pierce has a player option in the second year of his new contract.
ESPN.com first reported Pierce's agreement.
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