The deal is reported to be for $20 million dollars over two years with the second year being a player option. You have to assume that Allen took a hometown discount to stay here, as there are definitely teams out there willing to give him a third year.
Allen has said throughout the course of his time as a member of the Celtics that he wanted to stay in Boston and retire here. His maturity and professionalism over his successful career is truly something that you really don't see a whole lot of in sports anymore. Not only is Allen still a great player in this league, he is a great role model for younger players who might take what they have for granted- and there are many out there.
You can't deny Allen's work ethic- the man shows up three hours before every game and takes his pregame shots from all over the court. His body, even at age 34 (35 on July 20th), is still in possibly the best shape of his life. He prides himself on being the best conditioned body on the court at all times, and that is something that you can expect to see until he retires (and maybe after that too- he plans on running the Boston Marathon after he retires).
Seems the Boston Celtics wanted to go for another title shot using the original big three in the East and send back the school the most recent big three. To Ray Allen please don't shoot three you can catch and shoot the ball 15 feet away from the basket that makes you more efficient.