The Memphis Grizzlies signed guard/forward Vince Williams Jr. to a three-year, $7.9 million guaranteed contract, including a team option on a fourth season, sources told ESPN on Wednesday.
Williams -- who has developed into an outstanding wing defender -- gets the most guaranteed money given to a player who had been on a two-way contract.
The Grizzlies waived center Bismack Biyombo to create the roster spot, sources said. Biyombo made a good impact on the team in his 30 games, averaging 5.2 points and 6.4 rebounds with Steven Adams lost for the season.
Biyombo could be brought again later in the season, sources said. The Grizzlies are expected to use the two-way contract slot opened up with Williams' new standard NBA deal to sign a center on a two-way deal, sources said.
Williams -- who is averaging 5.9 points and 5.1 rebounds -- was the 47th overall pick out of VCU in the 2022 NBA draft.