MEMPHIS, Tenn. (AP) - The Memphis Grizzlies have signed point guard Mike Conley to a contract extension.
They agreed to terms before a Monday night deadline and waited for the NBA to approve the contract Tuesday before announcing what the Grizzlies call a multi-year deal.
The Commercial Appeal reports the deal is worth $40 million over five years with Conley able to earn more through incentives.
Conley, the fourth overall pick in 2007, becomes only the fourth player from that draft to receive such an extension, joining Kevin Durant of Oklahoma, Al Horford of Atlanta and Joakim Noah of Chicago.
The guard is off to the best start of his career averaging career highs with 15 points, 5.7 rebounds and 8.3 assists. He is leading the NBA with 3.67 steals per game.