Grizzlies welcome back Mike Miller

Miller was introduced at a midday news conference at the FedExForum, where fans and backers joined in welcoming him back to town. Miller drew applause from backers as he walked out with new head coach Dave Joerger and a standing ovation after the event.

We are extraordinarily pleased to welcome Mike Miller back to Memphis,” Levien said in a statement announcing the signing. “Mike is a special figure in our community both on and off the court. Mike is an elite 3-point shooter, as Grizzlies fans know firsthand, and we expect his shooting, play-making, hustle and leadership to be a key component in our team competing with the best in the NBA next season.”

Miller still holds eight franchise records with the Grizzlies, including 3-point shooting percentage and the most 3s made and attempted. He spent parts of six seasons with the Grizzlies from 2003 through 2008. He helped the Heat win the past two NBA titles, and has shot 41 percent from 3-point range in his 13 NBA seasons.

He will collect more than $12 million in salary from the Heat over the next two seasons.

Reported by Clay Bailey of the Associated Press