"After drawing interest from a few top contenders, including the NBA's new champions in Boston, Michael Finley has elected to re-sign with the San Antonio Spurs.

NBA front-office sources told ESPN.com on Friday that Finley and the Spurs have reached terms on a new deal that has been submitted for league approval.

Contract specifics were not immediately available, but sources say Finley's decision came down to a choice between staying with the Spurs or joining the Boston Celtics as the reigning champs' replacement for James Posey, who signed with the New Orleans Hornets earlier this summer.

Sources say the two-time All-Star also drew strong interest from the Hornets and Cleveland Cavaliers.

The Spurs, though, were determined to keep Finley, 35, even after signing swingman Roger Mason away from the Washington Wizards last month, with Brent Barry leaving San Antonio's wing rotation to sign with the Houston Rockets.

Heading into his 14th season, Finley joined the Spurs in the summer of 2005 after being waived by the Dallas Mavericks via the league's one-time amnesty provision, which allowed the Mavs to avoid paying a dollar-for-dollar luxury tax on the $51.8 million they owed Finley over the past three seasons."