Marc Gasol and the Memphis Grizzlies have agreed upon a five-year, $110 million deal.

Gasol met with Grizzlies owner Robert Pera in Spain last Wednesday, and progressed toward a final agreement over the next several days. Gasol was expected to re-sign with the Grizzlies as he didn't take any meetings with rival clubs.

The deal includes an early termination option for Gasol after the fourth season.