Ray Allen will be back with Celtics

As he suggested he would in the aftermath of Boston's season-ending Game 5 loss to the Miami Heat last month, Ray Allen formally exercised the second-year player option in the two-year deal he signed last offseason and will be back with the Celtics next season.

Allen signed a two-year, $20 million contract last summer and will earn $10 million next season.

"This has been my team," Allen said at his postgame press conference in Miami after the Heat won their Eastern Conference semifinal series, 4-1. "I have been full steam ahead with this team. I don't have any plans to go anywhere else."

Even at the age of 35, Allen shot career bests of 49.1 percent from the floor overall and 44.4 percent from beyond the arc. Along the way, he shattered Reggie Miller's record for 3-pointers made. For the 2010-11 season, Allen averaged 16.5 points, 3.4 rebounds, and 2.7 assists per game.

The decision means the Big Three of Allen, Paul Pierce and Kevin Garnett will be together for one more season. Garnett has one year left on his contract and Pierce has three years remaining.

Coach Doc Rivers will be around for five more seasons, having agreed to a new contract after the Eastern Conference semifinals.

Allen has spent four seasons as the Celtics shooting guard after being traded from Seattle. In 2007-08, the first season of the Big Three, the Celtics won their 17th NBA title.

Chris Forsberg covers the Celtics for ESPNBoston.com. Information from The Associated Press was used in this report.