NBA Rumors: Derrick Rose to Sign 2-Year, $6.5M Grizzlies Contract After Knicks Tenure

Derrick Rose and the Memphis Grizzlies have agreed to a two-year, $6.5 million contract, according to Shams Charania of Stadium and The Athletic.

SNY's Ian Begley first reported the two had agreed to a multi-year deal, while ESPN's Adrian Wojnarowski noted the contract would be for two years.

"Grizzlies want Rose on the floor this season and as a leader in locker room," Wojnarowski wrote.

The news comes after the New York Knicks declined Rose's $15.6 million club option for 2023-24 on June 24, making him a free agent this summer.

Rose not returning to the Knicks comes as little surprise after NBA insider Marc Stein reported midway through the 2022-23 season that the franchise was looking to find a trade partner for the three-time All-Star, signaling that his time in New York was possibly coming to an end.

However, there was some hope of Rose returning to New York after The Athletic's Fred Katz reported June 24 that the door was not closed on the veteran returning to the Knicks on a cheaper deal. Newsday's Steve Popper also reported he is "beloved" by the organization.

Now that Rose is moving on, the Knicks will continue to rely on Jalen Brunson and Miles McBride at point guard in 2023-24.

Rose didn't see much playing time in 2022-23, and that likely would have continued if he stayed with the Knicks.

In 27 games last season, the 34-year-old averaged 5.6 points, 1.5 rebounds and 1.7 assists while shooting 38.4 percent from the floor and 30.2 percent from deep.

Prior to Brunson's arrival in New York, Rose had a pretty significant role in the Knicks' rotation. During the 2021-22 season, he averaged 12.0 points, 3.0 rebounds and 4.0 assists, though his performance didn't do much in helping the franchise reach the playoffs as it finished with a 37-45 record.

Rose can still be a solid contributor for the Grizzlies in 2023-24, especially until Ja Morant returns from his 25-game suspension for conduct detrimental to the league, though he still figures to play a depth role behind the newly-acquired Marcus Smart.