Quincy Pondexter and the Memphis Grizzlies have agreed upon a four-year, $14 million extension.

Pondexter was the 26th overall pick in the 2010 NBA Draft out of Washington.

Pondexter averaged 8.9 points on 48.9 percent shooting from the floor in 23.9 minutes per game in the playoffs last season.

The Sacramento Kings have elected not to pick up their 14-15 option on Jimmer Fredette.

Fredette would have been due $3.1 million if the Kings exercised the option.

Fredette was the No. 10 overall pick in the 2011 NBA Draft ahead of Klay Thompson, Kawhi Leonard and Iman Shumpert.

Fredette will become an unrestricted free agent in July.

Gordon Hayward and the Utah Jazz continue to discuss a contract extension ahead of the Oct. 31 deadline.

Hayward would become a restricted free agent this coming offseason if he is unable to agree to an extension with the Jazz.

Reports suggest Hayward would only agree to an extension bigger than the four-year, $49 million deal that Derrick Favors recently agreed to with the Jazz.

Talks are expected to go down to the wire.

Guards Patrick Christopher and Kalin Lucas have reached deals to begin the season with the Chicago Bulls’ D-League affiliate, league sources told RealGM.

Christopher and Lucas had been released early in training camp with the Bulls this season, and the organization held their rights in order for both to play for the D-League’s Iowa Energy.

Christopher passed on several sizable offers from overseas teams.

Christopher, a 6-foot-5 two-guard, went undrafted in 2010 after averaging 15.6 points and 5.4 rebounds in his senior season at the University of California.

Lucas had a standout career at Michigan State, spending his first two professional seasons in Turkey and Greece.

The Denver Nuggets have exercised the fourth-year contract option on forward Kenneth Faried and the third-year option on guard Evan Fournier for 2014-15.

Faried, the 22nd overall pick in the 2011 NBA Draft, averaged 11.5 points and 9.2 rebounds – both career-highs – in 80 games for the Nuggets last season. He recorded 31 double-doubles and ranked ninth in the NBA in field-goal percentage (.552).

Fournier, the 20th overall pick in 2012, averaged 5.3 points and 1.2 assists in 38 games as a rookie last season. He scored in double-figures in six of his final nine appearances, including a career-high 24 points against the Portland Trail Blazers on April 14.

The Chicago Bulls have exercised its fourth-year option for the 2014-15 season for guard/forward Jimmy Butler, and its third-year option for the 2014-15 season for guard Marquis Teague. By exercising the respective player options, both players will be under contract with the Bulls for the 2014-15 season.

Butler (6-7, 220), appeared in all 82 games last season and posted averages of 8.6 ppg, 4.0 rpg and 1.4 apg in 26.0 mpg. He also shot .467 from the floor, .381 from beyond the arc and .803 from the line. 

Teague (6-2, 190), saw action in 48 games last season and averaged 2.1 ppg, 1.3 apg and 0.9 rpg in 8.2 mpg.

While Carmelo Anthony could become a free agent and sign elsewhere in the offseason, he spoke on Tuesday about recruiting free agents to come to the New York Knicks.

The Knicks could have significant cap space in 2015 for a free agent class that could include Kevin Love, Rajon Rondo and LaMarcus Aldridge.

Anthony was criticized this week by Charles Barkley and Kenny Smith when he talked about leaving the Knicks.

“I haven’t had a complaint yet in 10, 11 years in the NBA about playing with me,’’ Anthony said. “People would love to come to play in New York. When that comes, we’ll be working on that. I have a big black book, a big Rolodex. People talk about what’s going on with me in the offseason, [that] I should be getting people to come here. I am. I’m trying.’’

With the Boston Celtics as the leading candidate to acquire his rights, Romero Osby is finalizing a deal to sign in the NBA D-League, league sources told RealGM.

Osby was a final cut of the Orlando Magic, who selected the rugged, active forward with the No. 51 pick in the NBA draft. Since Osby’s release in training camp, the Oklahoma City Thunder, Golden State Warriors, San Antonio Spurs and Brooklyn Nets have also expressed interest in him, sources said.

Fort Wayne currently owns rights to Osby, but the Celtics’ D-League affiliate – the Maine Red Claws – is working to acquire the 23-year-old. The Celtics have one roster spot open and could call up Osby at a point that is flexible on the team’s salary situation.

Osby averaged 16 points and seven rebounds last season at the University of Oklahoma. He was part of the Magic’s summer league team and became one of the last rookie signings to officially join his drafted organization.

In seven preseason games for the Magic, Osby averaged 5.7 points and four rebounds in 15.4 minutes a game.

The Washington Wizards have waived guards Shannon Brown, Malcolm Lee and Kendall Marshall. The trio was acquired from Phoenix, along with center Marcin Gortat, in exchange for center Emeka Okafor and a 2014 protected first round draft pick.

Brown has averaged 8.1 points and 2.0 rebounds in 374 career games.

Lee has averaged 4.9 points and 2.4 rebounds in 35 career games with Minnesota before being traded to Phoenix last summer.

Marshall averaged 3.0 points and 3.0 assists during his rookie season with Phoenix last year.

The Wizards roster now stands at 15.

Reggie Williams was the final cut for the Houston Rockets on Monday.

"I want to thank the @HoustonRockets organization for the opportunity !!!! #RedNation," wrote Williams on Twitter.

Williams played in just two preseason games for the Rockets, averaging 4.5 points in 14.3 minutes per game.

Williams appeared in 40 games last season with the Charlotte Bobcats.