Mike Conley has agreed in principle to a five-year, $153 million deal with the Memphis Grizzlies.

The finer points of the deal are "nearing conclusion."

The contract is the richest in NBA history. Conley is widely considered one of the NBA's best players to have never appeared in an All-Star Game.

Memphis signed Chandler Parsons on a max contract earlier on the first day of free agency.

RealGM's Grading The Deal on Conley re-signing with the Grizzlies.