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Griz sign Conley to 5-year extension

Mike Conley is enjoying a career year after three games and he will be rewarded.

The fourth-year point guard and the Grizzlies reached an agreement on a five-year contract extension, according to a source with knowledge of the negotiations.

Conley avoided becoming a restricted free agent next summer.

Conley, the fourth overall pick in 2007, joined Oklahoma City's Kevin Durant (No. 2 overall pick), Atlanta's Al Horford (No. 3 pick) and Chicago's Joakim Noah (ninth pick) as the only players drafted in 2007 who received deals.

Notable players such as Oklahoma City's Jeff Green, Portland's Greg Oden and Houston's Aaron Brooks were denied.

For his part, Conley is off to a strong start to the season. He appears to be blossoming into the player the Griz envisioned. He's attacking the paint, finishing strong at the rim and shooting the ball with confidence.

His scoring (15 points per game), rebounds (5.7) and assists (8.3) are career highs. Conley also leads the league with 3.67 steals per game. The only other NBA players averaging at least 15 points, eight assists and five rebounds are New Orleans' Chris Paul and Milwaukee's Brandon Jennings.

@CAGrizBlog Conley deal is 5 years, $40 million with incentives, Commercial Appeal is reporting

It_Was_Typed wrote:I'm reading $45 million counting incentives.

Wow.

He shouldn't have gotten more than $25 million to be honest.

dookieguy wrote:Bit too much, but not terrible. Hopefully he can sustain this level of play.

360 wrote:Nice knowing you OJ.

ClarenceDerozan wrote:

dookieguy wrote:Bit too much, but not terrible. Hopefully he can sustain this level of play.

You realize you guys will lose 2 of 3 out of Gasol, Zbo, and Mayo?

GrizzledGrizzFan wrote:Wow. IF Mike continues to play the way he's been playing so far this season (3 whole games) it's a great deal. That's a damned big "IF" though.

The Michael Conley Jr. Contract

Interesting that contract talks only heated up over the weekend. The Griz originally didn't intend to deal but then decided to ask Conley for a number. It was too high. The Griz countered. Conley rejected and countered. And so the negotiations went back-and-forth Monday until about five minutes before the 11 p.m. CST deadline.

On the surface there are two surprises here: 1) the Grizzlies actually pulled the trigger and didn't allow Conley to become a restricted free agency next summer. 2) Conley received a lucrative deal that is betting on continued growth at the pace he's on at this exact moment.

Underneath the paperwork, the Grizzlies decision to sign Conley to a five-year, $40 million contract (with lofty incentives that could increase the overall value) isn't that much of a shock to the system.

Some key points about the deal:

1. The contract kicks in for the 2011-12 season, starting at roughly $6.5 million. With the maximum 10.5-percent raises allowed, the increases will look something like $7.18 (year 2), $7.9 (year 3), $8.76 (year 4) and $9.68 (year 5). There is no doubt (even with a new CBA) that Conley would have received an offer starting at least $6 million.

2. The only way Conley can exceed $40 million (i.e. the $45 million that national media was given by Conley's agent) is for him to produce what was described to me as "elite level PG statistics" AND the Griz must be winning 50-plus regular-season games AND having success in the playoffs. That means the bonus package is tied to individual and team greatness.

3. Another win/win in the deal is that there is deferred money in the deal. That'll help the Grizzlies' cash flow when their payroll is enormous. Zach Randolph came to Memphis with deferred money, which made it a little easier to absorb his contract.

Conley will receive his market value on the front end. And the Grizzlies got a little creative with this early signing realizing they'll have important business with Marc Gasol, Zach Randolph and O.J. Mayo.

I do think someone will be sacrificed in the long run. Unless the NBA's new collective bargaining agreement reduces length of guaranteed contracts /player salaries and includes better revenue sharing, then I tend to believe Mayo will be the odd man out because of sheer timing for his payday.

But that's another topic. Conley will be a Grizzlies for a long a good while.

Count me among those who believe --- all things considered -- this is a good thing.