Marc Gasol, Grizzlies Reach 4-Year, $58 Million Deal

Dec 12 9:23p by Tom Ziller

Marc Gasol announced on Twitter on Monday that he had reached a tentative agreement with the Memphis Grizzlies on a new contract. Gasol, who had restricted status and as of Sunday was reportedly close to signing a hefty offer sheet with the Houston Rockets, was rated as SBNation.com's No. 1 2011 free agent.

The terms of Gasol's deal with Memphis are not yet known, though only the Grizzlies could offer the center a five-year deal. In three years with Memphis, Gasol has been a rock, averaging more than 2,500 minutes per season and performing at a high level (a PER of 17.6).

Memphis has otherwise had a quiet offseason. Free agent Shane Battier left for the Miami Heat, and there were rumors Monday that the Grizzlies were working on a deal to send O.J. Mayo to the Indiana Pacers for forward Josh McRoberts (a restricted free agent) and possibly Brandon Rush.

Update: Gasol agreed to a four-year deal worth $58 million, according to Ronald Tillery of the Commercial Appeal. He will earn $12.5 million in 2011-12, with 12.5 percent raises the next three years. The most any other team could have offered was four years and $55 million ($12.5 million with 4.5 percent raises each year).

For more on the Grizzlies, visit Straight Outta Vancouver.