Forward Marreese Speights has agreed to a two-year contract with the Grizzlies worth nearly $9 million. Though they can be negotiated and agreed to now, free agent contracts can't be signed until Wednesday.
The second year of Speights' new contract is a player option.
Speights, acquired in January by the Griz from Philadelphia shortly after Zach Randolph's injury, averaged 8.8 points and 6.2 rebounds last season. He is a restricted free agent, meaning that the Griz would have had an opportunity to match any other team's offer.