Zach Randolph and the Memphis Grizzlies are hoping to put the finishing touches on a lengthy contract extension for the veteran forward before the start of summer free agency early next month.
ESPN reported Randolph has until June 30, just two days before the official start of the free agent signing period, to decide if he will opt out of the final season of his current deal which is scheduled to pay him $16.5 million.
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The website added part of the agreement would almost certainly require the 32-year-old Randolph to take a pay cut, but gain the security of a longer term agreement.
"It's going forward," Grizzlies interim general manager Chris Wallace told reporters last week of talks between the two sides. "We're very excited about what Zach's done in the past and hope to have him here in the future. This has really been a terrific boon for both sides. He's obviously meant a great deal to us on and off the court."
Randolph has previously indicated how much he has enjoyed his stay in Memphis and has hinted at wanting to establish a lifetime like relationship with the organization similar to what Tim Duncan and Dirk nowitzki are thought to have with the San Antonio Spurs and Dallas Mavericks, respectively.
"I'd like to be here," Randolph recently told ESPN. "I'd like to retire here. If I've got to make some sacrifices to be here, I would. I still can play. I can still help a team out. I want to win a championship. I've made all the money in the world. I just want to win."
Randolph averaged 17.4 points and 10.1 rebounds for the Grizzlies last season, leading Memphis to a 50-win season in coach David Joerger's first year. Over his 13-year-career, the veteran forward has averaged 17 points and nine rebounds
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