Steven Adams and the Memphis Grizzlies have agreed to a two-year, $25.2 million contract extension, his agent told ESPN's Adrian Wojnarowski on Saturday.
Adams was set to enter the final year of his contract in 2022-23 worth $17.9 million. The extension ties him to Memphis for the next three years and $43.1 million.
Adams is entering his second season with the Grizzlies.
The 29-year-old put together a respectable 2021-22 campaign, averaging 6.9 points, 10 rebounds and 3.4 assists in 76 games while shooting 54.7 percent from the floor, helping the Grizzlies finish second in the Western Conference with a 56-26 record before they were eliminated by the Golden State Warriors in the West semifinals.
Adams was selected by the Oklahoma City Thunder in the first round of the 2013 NBA draft out of Pitt. He spent seven seasons with the franchise, his best year coming during the 2018-19 campaign when he averaged 13.9 points, 9.5 rebounds, 1.6 assists and 1.5 steals in 80 games while shooting 59.5 percent from the floor.
The Thunder traded Adams to the New Orleans Pelicans in a four-team trade ahead of the 2020-21 season. That deal also included the Milwaukee Bucks, who landed Jrue Holiday in the swap, and the Denver Nuggets.
In his lone season with the Pelicans, Adams averaged 7.6 points, 8.9 rebounds and 1.9 assists in 58 games while shooting 61.4 percent from the floor.
Now entering his second season in Memphis, Adams will continue to serve as the team's starting center, joining a starting unit that includes Ja Morant, Desmond Bane, Dillon Brooks and Brandon Clarke. His backups include Xavier Tillman and Santi Aldama.
Considering Adams is one of the oldest players on this young Grizzlies squad, it's no surprise Memphis wanted to lock him up for a few more seasons.
The Grizzlies are slated to open the 2022-23 campaign against the New York Knicks on Oct. 19.