I think Pierce will opt-out his 19 millions, and will get a 4 year deal, with the last year a team option, at around 12 millions a year. He'll retire as a Celtic, and with this paycut the Celtics may use the full MLE to sign a good wing, we're all thinking about Mike Miller

Besides that, Ray would be happy resigning for two years (at about 10 millions a year - Kidd's money), to match with KG's contract. After that, the Celtics will sign them for one year contracts until they retire, for the minimum or slightly more. If you add Rondo's money to Ray's money in that case, they'll make more or less this year's Ray contract. So the Celtics payroll will be about the same.
Maybe not, and they blow the team out. They might trade Perk and/or Sheed, not resign Ray or the bench guys. But I guess they will be a very good team next year, a real contender if they keep their core together.
Go Celtics!!!