The Boston Celtics have re-signed guard Rajon Rondo to a 5-year, $55 million contract extension, says Rondo’s agent Bill Duffy. The contract is similar to that of San Antonio guard Tony Parker despite Rondo only averaging around 12 points per game last season. But, Rondo’s explosion in last season’s playoffs boosted his worth significantly. In the 2008-’09 playoffs, he averaged close to a triple-double with 16.9 points, 9.7 rebounds and 9.8 assists per game.

Rondo’s extension could have an effect on Memphis Grizzlies guard Rudy Gay, who has been in talks with the Grizzlies about an extension, looking for around $50 million. Also, by signing the extension, Rondo crossed his name off a hefty list of players who could be free agents after this season ends. Here is a list of major star free agents and players who can opt out of their current contract.

Free Agents:

Atlanta Hawks guard Joe Johnson

Boston Celtics guard Ray Allen

San Antonio Spurs forward Manu Ginobili

Los Angeles Clippers center Marcus Camby

Houston Rockets guard Tracey McGrady

Cleveland Cavaliers center Shaquille O’Neal

Golden State Warriors guard Stephen Jackson

Toronto Raptors center Jermaine O’Neal

Detroit Pistons guard Rip Hamilton

Players who can opt out and their current contract worth:

Houston Rockets center Yao Ming (owed $17.7 million in 2011)

Pheonix Suns forward Amare Stoudamire (owed $17.7 million)

Cleveland Cavs guard LeBron James (owed $17.2 million)

Miami Heat guard Dwayne Wade ($17 million)

Toronto Raptors center Chris Bosh ($17.1 million)

Dallas Mavericks forward Dirk Noritz ($21.5 million)

(THE BIZ OF FOOTBALL)

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(THE BIZ OF HOCKEY)

• Panel Installs Mike Ouellet As Acting Executive Director of NHLPA
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(THE BIZ OF BASEBALL)

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• An Interview with MLB Network's Victor Rojas
• LWIB: How Has MLB Weathered The Recession?
• World Series Viewership Remains Strong, Up 57% From '08
• Inside the World Series Multi-Year Contracts
• Ricketts Family Formally Introduced as New Owners of Chicago Cubs
• Albert Pujols Named "Player of the Year" by Peers

Matthew Coller is a staff member of the Business of Sports Network, and is a freelance writer. He can be followed on Twitter

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