Celtics sign guard Stephon Marbury

BOSTON, Feb. 27 (UPI) -- The defending NBA champion Boston Celtics have signed guard Stephon Marbury a short time after his highly publicized release from the New York Knicks.

The 32-year-old Marbury finished a troubled tenure in New York by reaching a buyout agreement in which he was believed to have given up $2 million of the $21.7 million he was due this season.

It was reported that he was asked to drop a grievance over a $400,000 fine to gain his release.

In Boston, the temperamental Marbury, a 12-year NBA veteran, will reunite with forward Kevin Garnett, a former Minnesota Timberwolves teammate.

"Our entire organization is confident in the belief that Stephon can play an important role in helping us to win another championship," said Danny Ainge, Celtics president of basketball operations.

Marbury, a two-time NBA all-star, has averaged 19.7 points and 7.8 assists in 823 games for four NBA teams.

He is expected to suit up for Friday night's contest against the Indiana Pacers.