Parsons represents the first significant free agent to ever choose the Memphis organization. The deal was completed in a meeting in Los Angeles on Friday morning with Grlizzlies management, Parsons and his agent, Dan Fegan.
Parsons joined the Dallas Mavericks on a three-year deal in 2014 after the skilled forward played three seasons with the Houston Rockets. Parsons averaged 13.7 points, 4.7 rebounds and 2.8 assists, and shot 41.6 percent from 3-point range in 61 games this past season before opting out of the third year of his deal.
Parsons had performed at his highest level with the Mavericks, averaging 18.8 points, five rebounds and 2.7 assists in February before undergoing season-ending knee surgery in March. Doctors described the procedure as minor and his treatment allowed for a quick return to on-court training and clearance for basketball activities.
Parsons gives Memphis an upgrade on the wing with his perimeter shooting and versatility.
In five NBA seasons, Parsons has averaged 14.3 points, 5.1 rebounds and three assists. He was the 38th overall pick of the Rockets in the 2011 NBA draft after a standout career at the University of Florida.
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