Palacio: 2-years at 1.43 million total reports BosGlobe

["j.hironaka" <j.hironaka@unesco.org>]

http://www.boston.com/dailyglobe2/199/sports/Thanks_to_rookies_excitement_still_in_the_Air+.shtml

Palacio agrees to deal
The Celtics and free agent guard Milt Palacio have reached agreement on a 
two-year contract, his agent said yesterday. Palacio, who had 7 points last 
night, will receive approximately $1.43 million over the next two seasons.

Agent Bill Duffy planned to arrive in town today on an overnight flight 
from San Francisco to close the deal. ''It's a good fit for Milt,'' Duffy 
said. ''He's not going to be able to retire on this contract, but it's a 
good situation for him in Boston.'' Today is the first day NBA teams can 
sign free agents.
In addition to the agreed-upon salary, the Celtics also will use a portion 
of their mid-level exception to add bonus money, most of it tied to 
team-related goals.

''I don't know if that's ever been done before,'' Duffy said, referring to 
the setting aside of exception money for bonuses rather than salary. The 
NBA requires only that a team have salary cap space available to pay any 
projected bonus money.

Palacio, 23, appeared in 56 games in two stints with the Celtics last 
season. He first was with the team Dec. 6-Jan. 5, during which he hit his 
unforgettable 3-point heave to beat the Nets at the Meadowlands. He 
rejoined the Celtics Jan. 9 and was signed for the rest of the season Jan. 30.
General manager Chris Wallace had said all along that, in his mind, 
re-signing Palacio was not going to be a major problem. The signing will 
give the Celtics 14 players under contract. They also would like to bring 
back Bryant Stith, but only on a one-year basis, because of possible luxury 
tax concerns in the 2002-03 season.