Sources: Zach Randolph, Griz agree

— -- Former All-Star forward Zach Randolph has agreed to a two-year, $20 million extension with the Memphis Grizzlies, sources confirmed to ESPN.com's Marc Stein on Friday.

With the agreement, Randolph has opted in for next season at $16.5 million. The new two-year extension will keep him with Memphis through the 2016-17 season.

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The 32-year-old Randolph averaged 17.4 points and 10.1 rebounds last season, helping Memphis win 50 games, despite Marc Gasol's early-season knee injury, in coach Dave Joerger's first season.

The extension was first reported by the Memphis Commercial Appeal.