General manager Chris Wallace's contract with the Grizzlies is set to expire following this season, but he'll likely remain the team's general manager and vice president of basketball operations for many years into the future.

"He works hard and he's done a fantastic job," Griz owner Michael Heisley said. "He's someone I work with well. We have great chemistry. I'd like for Chris to stay and I think he'll be with us for a good period of time."

Heisley sounded as if he expected Wallace's new deal to be more of a technicality.

"I'd love to stay here," Wallace said. "I want to be here a long time. The team is on an upswing. People are starting to relate to the team, and come back to FedExForum. I really enjoy working with Mike. He's a hard-charging, aggressive guy who has been successful in everything else he's done. We have to find a way to reward him with success with the Grizzlies."