Marc Gasol has agreed to a five-year, $110 million maximum contract to remain with the Memphis Grizzlies, league sources told Yahoo Sports.
The deal includes an early-termination option after the fourth year in 2018-19, league sources said.
Gasol met with Grizzlies owner Robert Pera in Spain last Wednesday, and progressed toward a final agreement over the next several days, sources said.
Gasol, 30, never seriously considered leaving the Grizzlies. He attended high school in Memphis while his older brother, Pau, played for the Grizzlies, and has spent all seven seasons of his NBA career with Memphis.
Gasol developed into one of the league's best centers during his previous four-year, $58 million contract. He averaged a career-high 17.4 points with 7.8 rebounds and 3.8 assists in 81 games this past season.
With Gasol helping anchor their frontline, the Grizzlies have made the playoffs each of the past five seasons, reaching the second round twice and the Western Conference finals in 2013.
The Los Angeles Lakers took Gasol with the 48th overall pick in the second round of the 2007 NBA draft, then traded him to Memphis as part of a package for Pau on Feb. 1, 2008.