Grizzlies Sign Quincy Pondexter To Extension

3:48pm: The Grizzlies have officially announced in a press release that they’ve signed Pondexter to a contract extension.

10:33am: The Grizzlies’ deal with Pondexter will be worth $14MM over four years, reports Chris Haynes of CSNNW.com (via Twitter).

8:03am: Ed Davis was viewed as the likeliest extension candidate on the Grizzlies leading up to today’s deadline, but his teammate Quincy Pondexter may be the only Memphis player who gets a new deal today, according to Ronald Tillery of the Memphis Commercial Appeal. Tillery reports (via Twitter) that Pondexter and the Grizzlies are expected to finalize a four-year contract in advance of today’s deadline, while an extension is unlikely for Davis, who is far apart with the team in negotiations.

When ESPN.com’s Marc Stein examined extension possibilities 10 days ago, he indicated that a deal for Pondexter hadn’t been completely ruled out by the Grizzlies, though it didn’t seem probable. According to Tillery (via Twitter), the extension came together within the last few days, after the two sides exchanged proposals. The financial terms of the contract remain unclear, but it’s safe to assume that Pondexter’s deal will be much more modest than those signed recently by Paul George, John Wall, DeMarcus Cousins, Derrick Favors, and Larry Sanders.

Pondexter, 25, was limited to 59 games last season due to a sprained MCL, but had his best run during the playoffs, when he averaged 8.9 PPG and shot 45.3% on three-pointers. The 6’6″ shooter has played the last two seasons in Memphis after being acquired from New Orleans in a trade for Greivis Vasquez.

With today’s extension deadline looming, I wouldn’t be surprised if we see one or two players besides Pondexter secure new deals. Gordon Hayward of the Jazz and Eric Bledsoe of the Suns are among the candidates.