The three-year contract is worth $10.6 million dollars.
Pierce, the one-time NBA champion and veteran of three teams, was the eighth-oldest player in the NBA this past season.
He's told ESPN.com, that he didn't even know if he wanted to play anymore.
"These seasons get harder and harder every year, every day," Pierce said. "Summers get even harder when you start getting back in shape. I'm 37 years old. I'm top two or three oldest in the league."
So much for that thought. But, the Wizards have made it clear they want him back.
Wizards owner Ted Leonsis on his personal blog in June: "Paul Pierce is a Hall-of-Fame player, and he brought so much to the Wizards this year -- on the court as well as off," "When people struggle to describe the 'It Factor,' all they need to do is look at Paul."
What do you think about this decision?