A person familiar with the situation says Memphis Grizzlies forward Zach Randolph has agreed to a contract extension.
The person spoke to The Associated Press on the condition of anonymity because the extension hasn't been announced. Terms and length of the deal weren't disclosed.
Yahoo Sports, which first reported the news, said Randolph is exercising his $16.5 million option for the 2014-15 season and has agreed on a two-year extension worth $20 million.
The 32-year-old Randolph has been a cornerstone of the Grizzlies franchise since coming to Memphis in 2009. He averaged 17.4 points and 10.1 rebounds this season for the Grizzlies, who lost to Oklahoma City in the first round of the Western Conference playoffs.
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AP Sports Writer Brian Mahoney in New York contributed to this report.

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