Chandler Parsons Agrees To Terms With Memphis Grizzlies

UPDATE (1:59 PM): Parsons poses with his new jersey and Grizzlies head coach David Fizdale in and Instagram photo:

Really excited for this opportunity and new chapter with the @memgrizz !! This is a perfect fit for me and I can't wait to get started!! I want to thank the owner RP for believing in me, Coach Fiz, JB, and everyone else involved!!

A photo posted by ChandlerParsons (@chandlerparsons) on Jul 1, 2016 at 1:45pm PDT

UPDATE (12:32 PM): Parsons has officially agreed to sign with the Memphis Grizzlies, per Wojnarowski:

Parsons represents the first significant free agent to ever choose the Grizzlies. Deal was done in meeting with Parsons and agent Dan Fegan.

— Adrian Wojnarowski (@WojVerticalNBA) July 1, 2016

Chandler Parsons is close to agreeing to terms with the Memphis Grizzlies, according to The Vertical's Adrian Wojnarowski. The Portland Trail Blazers had offered Parsons the same deal last night in a meeting that included Damian Lillard, but Parsons had previously spoken with Memphis point guard Mike Conley on multiple occasions.

Free agent Chandler Parsons is nearing agreement on a four-year, $94M max deal with the Memphis Grizzlies, league sources tell @TheVertical.

— Adrian Wojnarowski (@WojVerticalNBA) July 1, 2016

League sources say Mike Conley and Chandler Parsons have had multiple conversations about playing together in... https://t.co/TrkevqEc01

— Tim MacMahon (@espn_macmahon) July 1, 2016

While this means a major miss for the Trail Blazers, it does leave them with a significant amount of money to spend on their plan B options, or even free agent center Dwight Howard, who is rumored to meet with the Trail Blazers in Las Vegas next week. So far, free agency is not going as well as the Trail Blazers had hoped.