I like Rondo, but I think 5 years is too long a contract, especially with the potential of a lock-out at the end of the current CBA and who knows what is going to be happening with the salary cap predictions (or restrictions) etc etc.
Would you be willing to pay Rondo $13 million a year and make him the team leader of your franchise. I would of been happier to see a three year contract, even at a flat $10 mill per.
Let's be honest, Rondo is the 4th best player on the team, and depending on your views, he maybe the 3rd best behind Garnett and Pierce. Flip a coin between him and an aging Ray Ray.
I think this 'big 4' realistically only has a 2 season window, maybe a third depending what Ainge does with Ray. Go hard for the next two seasons and then give Rondo a year to see if he can establish himself as the leader of the new 'Boston Celtics'.
After the next two season I think it will be a downward spiral unless Ainge can get some good pieces. Does he roll the dice now and see what Allen's expiring contract can get him knowing that he'll still have KG, Pierce and Rondo which is still an Eastern Conference contender. Allen's contract is probably worth more than Allen the player is.
A 3 year contract extension puts him at the end of the 2012/2013 season. Ray expires at the end of this season, Pierce expires after next season and KG the season after. Both Pierce and KG won't get the coin they are currently getting (Pierce is on $21 next season, and KG has $18 and $21 coming his way). They could afford to extend Pierce by 2 years and KG by a year and make it a 3 year window. If it all blows apart, then you'd have some huge salary cap freedom.
I think Chris Paul summed it up very nicely,
""Boston has established themselves as a team that's not going to beat themselves. I think Rondo’s a lucky guy to be able to play with a guy like Paul Pierce, Ray Allen, KG, and Rasheed Wallace."