Zach Randolph, Grizzlies agree to two-year contract extension

All-Star forward Zach Randolph has reached agreement with the the Memphis Grizzlies on a two-year, $20 million contract extension that begins in 2015-16.

Randolph, 32, will exercise his $16.5 million player option for 2014-15 and extend the deal with the additional two years and $20 million. Randolph had until Monday to exercise his option or become a free agent on July 1.