6:05pm: The deal is official, the team announced.
Pressey was waived by the Celtics last week, though the team reportedly was reluctant to do so. “Phil may be my favorite player I’ve ever been around in the NBA, as a player, a coach or as an executive,” Celtics executive Danny Ainge said. “It was a very difficult morning for me today. He’s a player I’d want on my team all the time. Unfortunately, we just have an abundance of small guards already. It’s unfortunate. He’s helped us a lot in the last two years, and he’s a classy and hardworking player.”
The 24-year-old will compete to become the primary backup to Damian Lillard in Portland. Pressey made 50 appearances for Boston during the 2014/15 campaign, averaging 3.5 points, 1.6 rebounds, and 2.3 assists in 12.0 minutes per contest. His shooting line was .368/.246/.673.