The Memphis Grizzlies and free-agent guard Derrick Rose have agreed to a fully guaranteed two-year, $6.5 million contract, league sources confirmed to The Athletic on Friday. Here’s what you need to know:

  • Rose averaged 5.6 points and 1.7 assists last season with the New York Knicks. His 12.5 minutes per game were the fewest for an entire season in his career.
  • The three-time All-Star adds to the Grizzlies’ backcourt that brought in Marcus Smart but lost Tyus Jones and will be without two-time All-Star Ja Morant for a minimum of 25 games for “conduct detrimental to the league.”
  • Rose has career averages of 17.7 points, 5.3 assists and 3.3 rebounds over 14 seasons.

Rose will sign a fully guaranteed two-year, $6.5 million deal with the Grizzlies, sources said.

— Shams Charania (@ShamsCharania) July 1, 2023

The Athletic’s instant analysis:

What does this mean for the Grizzlies?

The sentiment will be strong on this one, as Rose is a local hero for lifting the Memphis Tigers to the 2008 NCAA tournament title game in his lone college season. The Grizzlies play in the same arena as the Tigers, so it’s a familiar spot for him.

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Rose fills the only open roster spot on Memphis’s roster, barring a trade. The Grizzlies have a particularly strong need for another guard during the first 25 games, when Morant will be suspended by the league, and apparently weren’t overwhelmed by the possibilities of using their $12.4 million non-taxpayer midlevel exception on a replacement small forward for the departing Dillon Brooks. — Hollinger

How much can Rose help?

That’s the more interesting question. Rose is 34, only played 27 games last season and was all but forgotten at the end of New York’s bench by season’s end. He has only played 88 games over the last three seasons.

Additionally, he hasn’t really played point guard in years, operating more as a pure scorer in Detroit and New York the last four seasons. — Hollinger

What are the cap implications of the deal?

Memphis and Rose agreed to a fully guaranteed two-year deal, according to The Athletic’s Shams Charania, a bit surprising given his age, limited availability and effectiveness the last few years.

The Grizzlies did not use any of their exception money, and could still turn to use their MLE or biannual exception if trades can clear another roster spot. Memphis also remains more than $20 million below the luxury tax line. — Hollinger

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(Photo: Nathaniel S. Butler / NBAE via Getty Images)