6:11pm: The deal is official, according a Grizzlies press release.
12:30pm: The Grizzlies and restricted free agent forward Jontay Porter have agreed to terms on a new three-year, $6MM deal, his agents at Priority Sports tell Adrian Wojnarowski of ESPN (Twitter link).
Porter, who went undrafted in 2019 out of Missouri after tearing his ACL for a second time, was once considered a top prospect but has yet to play in an NBA game due to those knee injuries. Still, the Grizzlies seem to believe in his upside, having signed him to a contract before the end of the 2019/20 season in anticipation of him being ready for training camp later in the year.
Although the Grizzlies turned down Porter’s team option earlier in the week, they made him a restricted free agent and had Non-Bird rights on him, allowing for a deal that exceeds two years without using the mid-level, ESPN’s Bobby Marks notes (via Twitter). It appears it’ll also be worth a little more than the minimum.