Spencer and the Grizzlies agreed to a four-year, $10.5 million deal, ESPN's Shams Charania reports.

EDGE Analysis

Spencer previously agreed to a two-year, $4.5 million deal, but the Grizzlies were able to restructure it after recent moves inside the organization. The deal will now include three fully guaranteed years for the wing. In his second NBA season, Spencer will likely be fighting for minutes at the edge of the rotation.