"The Celtics announced today that they have signed free agent guard Stephon Marbury. Per team policy, terms of the deal were not disclosed, though two NBA sources said before Marbury cleared waivers that he would sign for the prorated veteran minimum of $1.3 million for the rest of the season.

"We are very excited to have a player of Stephon’s caliber joining our team. Our entire organization is confident in the belief that Stephon can play an important role in helping us to win another championship,” said president of basketball operations Danny Ainge.

The two-time All-Star, who will wear No. 8 with the Celtics, is undergoing a physical this afternoon and is expected to attend a closed practice at TD Banknorth Garden at 5 p.m. before tonight's game against Indiana.

It remains uncertain if Marbury will be in uniform tonight, but given that the Celtics have just 11 players in uniform, it's possible that they may need him to suit up in case of an emergency situation. Marbury and coach Doc Rivers are scheduled to meet with reporters at 5:45 p.m., when his status will likely become clearer.

Marbury, a 6-foot-2-inch, 205-pound guard, is in his 13th season in the NBA and has posted career averages of 19.7 points and 7.8 assists per game. "