The Boston Celtics announced on Monday evening that the team signed point guard Rajon Rondo to a multi-year contract extension. Per team policy, terms of the deal were not disclosed, but it is believed to be worth $55 million over five seasons.

?We are extremely pleased to be able to extend Rajon?s contract,? said Celtics President of Basketball Operations, Danny Ainge. ?We believe that he is one of the elite point guards in the NBA and has a tremendous future ahead of him.?

Rondo was ranked 16th in season FIC during the 2008-09 season and 'deserved' a salary of $15.1 million. Coming into Monday's games, Rondo was ranked fifth in season FIC during the 2009-10 season.

?I would like to thank the Celtics ownership, Danny Ainge, Doc Rivers, my teammates and the Celtics organization for all of their support over the years,? said Rondo. ?I would also like to thank my family, friends and fans. I?m ready to do everything I can to bring banner 18 to Boston.?