FRIDAY, 12:07pm: The Grizzlies have officially signed Franklin, the team announced today in a press release.
THURSDAY, 4:12pm: The Grizzlies have reached agreement with Jamaal Franklin on a three-year deal, according to Sam Amick of USA Today (on Twitter). The third year of the deal will be a team option.
Memphis drafted the former San Diego State swingman with the 41st overall pick last month. The 22-year-old also drew interest from the Bulls, Knicks, Clippers, and Hawks and was thought by some to be a late-first round talent. In his final collegiate season, Franklin averaged 17 PPG, 9.5 RPG, and 3.3 APG.