The Memphis Grizzlies signed point guard Mike Conley to a contract extension late Monday night, according to his agent and father, Mike Conley Sr.Conley Sr., who along with Bill Duffy represents his son, would not specify the terms of the contract. But other sources with knowledge of the situation said the deal is worth $45 million over five years.
The Grizzlies' decision to lock up Conley as their point guard of the future was sparked by his excellent play in the preseason and over the regular season's first three games.
Conley, the fourth pick of the 2007 draft, has averaged 15 points, 8.3 assists and a league-high 3.67 steals in leading Memphis to a 2-1 start.
"Did I envision that Mike would play like this? Yes," Conley Sr. said in a telephone interview on Monday. "But I did not have confidence that the Grizzlies would embrace him like they have with this contract. The first thing I told them when we began negotiating was that I didn't want to go further with these discussions unless Mike was their guy. They said he's their guy."
Source: http://sports.espn.go.com/nba/news/story?id=5754722
Best news I heard all day. No way they let Gasol go after paying Gay and Conley. This also means the odds of Zach Randolph being signed are probably ZERO. Luckily we have Anthony Randolph to help Memphis out at the PF spot. 
Now we need to OJ Mayo. ASAP.
OJ Mayo for Anthony Randolph and Azuibuke
