Report: Randolph, Grizzlies agree to two-year contract extension

Grizzlies forward Zach Randolph earned All-Star honors in 2010 and 2013.

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All-Star forward Zach Randolph has made it public knowledge that he wants to remain a cornerstone of the Memphis Grizzlies organization. And after some back-and-forth contract negotiations, it appears Randolph will have a good opportunity to finish his career in Tennessee.

Randolph will sign a two-year contract extension after exercising his player option for next season, effectively keeping Randolph in Memphis through the 2016-17 season, according to Yahoo! Sports/FOX Sports 1 NBA insider Adrian Wojnarowski. The player option is worth $16.5 million while the two-year extension will total $20 million.

Randolph’s decision comes just ahead of the June 30 deadline to exercise the player option. If he declined, he would have become an unrestricted free agent on July 1.

With Randolph still in the fold, the Grizzlies hold on to the franchise’s tough-minded identity. Randolph is now set to re-join center and frontcourt mate Marc Gasol for at least one more year for the 2014-15 season — Gasol is set to become an unrestricted free agent next year — along with starters Mike Conley, Tony Allen and Tayshaun Prince. The Grizzlies also added Tennessee big man Jarnell Stokes, a likely backup for Randolph and Gasol next season, along with UCLA wing Jordan Adams through the draft.

Since being traded to the Grizzlies in July 2009, Randolph has reinvigorated his career, making two All-Star appearances and establishing himself as one of the top low-post scorers in the NBA.

Randolph has averaged 17.8 points and 11 rebounds in 339 games played for the Grizzlies.