JULY 15TH: The Grizzlies have officially announced Allen's new deal in a press release.
JULY 2ND: The Grizzlies have reached agreement on a contract extension with Tony Allen, according to Ronald Tillery of the Commercial Appeal (via Twitter). The deal will pay Allen $20MM over four years, a league source tells Adrian Wojnarowski of Yahoo Sports (on Twitter).
There were a number of teams gunning for Allen this summer, including the Nuggets, Mavericks, Knicks, Trail Blazers, Pacers, and Bucks. Allen's last contract paid him $9.45MM over three years, so this new deal gives the 31-year-old a solid raise coupled with security to take him through the 2016/17 season.
Allen has never been a tremendous scorer but he has blossomed into one of the best perimeter defenders in the league. The veteran made 79 starts for the Grizzlies last season and averaged 8.9 PPG with 4.6 RPG in 26.7 minutes per game, a career high.
Allen is represented by Raymond Brothers of I AM Sports, as shown in the Hoops Rumors Agency Database.