Free-agent center Jonas Valanciunas has agreed to a three-year, $45 million deal to return to the Memphis Grizzlies, his agent Leon Rose told ESPN.
Valanciunas declined a $17.6 million player option on his 2019-20 contract, clearing the way to become an unrestricted free agent and negotiate a new, longer term deal.
In the post-Marc Gasol era, Valanciunas arrived in Memphis with the franchise focused on him as a long-term solution at center next to talented forward Jaren Jackson Jr.
Valanciunas, 27, had the most productive stretch of his career with the Grizzlies after getting traded from Toronto in February, averaging 19.9 points and 10.7 rebounds in 19 games.
Valanciunas, who will be starting his eighth NBA season, has averaged 11.8 points and 8.4 rebounds a game in his career.
NBA free-agent contracts can't be officially signed until July 6.