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BREAKING: Memphis Grizzlies Reportedly Signing Former NBA MVP

According to SNY's Ian Begley, the Memphis Grizzlies will sign Derrick Rose.
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On Friday evening, NBA free agency has begun, and players around the league are signing new deals with teams.   

According to SNY's Ian Begley, the Memphis Grizzlies are adding 2011 NBA MVP Derrick Rose.   

Via Begley: "Free agent Derrick Rose intends to sign a multi-year agreement with the Memphis Grizzlies, per SNY sources."

In addition to Begley, ESPN's Adrian Wojnarowski confirmed the news with his own report. 

Via Wojnarowski: "Free agent Derrick Rose has agreed on a two-year deal with the Memphis Grizzlies, source tells ESPN. Grizzlies want Rose on the floor this season and as a leader in locker room. @IanBegley first reported."

Rose has been with the New York Knicks for the last two and a half seasons, but he fell out of the rotation this past year, averaging only 12.5 minutes of playing time in 27 games. 

The 34-year-old was the first pick in the 2010 NBA Draft out of Memphis, so he is returning to the city where he played his one season of college basketball. 

In addition to the Knicks, Rose has been with the Chicago Bulls, Cleveland Cavaliers, Minnesota Timberwolves and Detroit Pistons over his 14 seasons in the NBA. 

His career averages are 17.7 points, 3.3 rebounds and 5.3 assists per contest in 699 regular season games (he's also played in 52 NBA Playoff games). 

As for the Grizzlies, they were the second seed in the Western Conference with a 51-31 record but lost to the Los Angeles Lakers in the first round of the NBA Playoffs.