Memphis Grizzlies rookie Deyonta Davis – the No. 31 pick in the 2016 NBA draft – has agreed to a three-year, $4 million deal, marking the richest guaranteed salary for an American-born second-round pick, league sources told The Vertical.

Davis finalized the fully guaranteed three-year deal on Sunday that allows Memphis to retain his Bird rights as a free agent and eliminate the Arenas provision, leaving him with no restrictions on how much he could earn on a second deal while entering free agency one year earlier than if he had been selected in the first round. With the exponential rise in the NBA’s salary cap, more second-round rookies have sought ways to enter the free-agency market as swiftly as possible.

Davis’ deal exceeds the guaranteed slotted salary of the 16th pick in the draft. Davis left Michigan State as a freshman, and his three-year deal allows him to reach free agency entering his fourth season.

Previously, Houston Rockets forward Montrezl Harrell had the richest guaranteed deal for an American-born second-round pick at $3.1 million for three years.

The Grizzlies acquired Davis via a trade with the Boston Celtics and had ranked Davis as a mid first-rounder. Memphis has revamped its roster this summer, re-signing Mike Conley Jr. and adding Chandler Parsons, James Ennis and Troy Daniels.

Davis is a 6-foot-11 presence who should provide immediate impact on the defensive end. In his lone season at Michigan State, Davis averaged 7.5 points, 5.5 rebounds and 1.8 blocks in 35 games.