Free-agent center Darko Milicic agreed in principle to a three-year contract with the Memphis Grizzlies on Wednesday, the player's agent Marc Cornstein told ESPN.com Insider Chad Ford.

Cornstein refused to disclose the amount of the deal, but the starting salary is believed to be for substantially more than the $5.3 million mid-level exception.

"We are extremely excited for this new opportunity," Cornstein said. "Darko's going to a team that really wants him. He's going to a young team with an exciting bright future much like his own. We're very excited Darko gets to learn from coach Marc Iavaroni. We believe he's one of the best big men coaches in the game. And we couldn't be happier that he has found a new home where he's appreciated."