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All-Star power forward Zach Randolph has decided to stay put and resign with the Memphis Grizzlies.
Randolph, who would have become a free agent on July 1, reached a two-year, $20 million agreement with the Grizzlies. This deal will take effect in the 2015-2016 season because he will earn $16.5 million in the upcoming season due to his one-year player option.
The announcement came after several weeks of negotiations between Randolph and the organization, reports Yahoo Sports.
Randolph posted 17.4 points and 10.1 rebounds per game last season. He has spent the last six seasons in Memphis. In five of these years, he has averaged a double-double. The only year he did not was 2012, when he was limited to 28 games in the lock-out shortened season, according to basketball-reference.com.
The 32-year-old had previously expressed his desire to remain with the Grizzlies and complete his career there. He eyes establishing a long-term relationship with the organization.
Randolph and the Grizzlies have made the playoffs each of the last four seasons. In 2013, they advanced to the Western Conference Finals. They have won at least 50 games in both of the last two seasons.