Allen agrees to re-sign with Celtics

Ray Allen(notes) has reached agreement on a two-year, $20 million contract with the Boston Celtics, league sources told Yahoo! Sports.

Allen is scheduled to make $10 million in each season of the deal. The second year is at his option.

Allen's agreement comes five days after the Celtics agreed to give Paul Pierce(notes) a four-year, $61 million extension.

"I'm excited to be returning as a Celtic," Allen said. "There's nowhere else I would rather be."