The Memphis Grizzlies today exercised the fourth-year team option on guard Mike Conley and picked up the third-year team options on guard O.J. Mayo and forward Darrell Arthur.  Per team policy, financial details were not disclosed. All three players are now signed through the 2010-11 season.

Conley, the fourth overall selection in the 2007 NBA Draft by the Grizzlies, owns career averages of 10.3 points, 3.1 rebounds and 4.3 assists in 28.8 minutes in 136 games (108 starts). The third-year 6-1, 185-pound playmaker showed vast improvement last season, averaging 14.3 points, 3.9 rebounds and 5.7 assists on 45.4 percent shooting in 36.3 minutes in 39 games after Lionel Hollins was named the team’s head coach on Jan. 25, 2009.

Mayo, the third overall selection in the 2008 NBA Draft by the Minnesota Timberwolves, was the runner-up to the Chicago Bulls’ Derrick Rose for the 2008-09 NBA Rookie of the Year Award after leading all first-year players in scoring (18.5 points, 28th in NBA) and minutes (38.0, 11th). The 6-4, 210-pound guard, who was acquired by the Grizzlies in an eight-player deal on draft night, owns career averages of 18.4 points, 3.8 rebounds and 3.2 assists in 38.0 minutes in 83 games (all starts).

Arthur, who was originally selected by the New Orleans Hornets with the 27th overall pick in the 2008 NBA Draft, was traded three times on draft night before he eventually landed in Memphis. In his first NBA season with the Grizzlies in 2008-09, Arthur ranked in the top 10 among NBA rookies in rebounds (4.6, 8th), blocks (0.68, 7th) and steals (0.68, 10th) and added 5.6 points in 76 games (64 starts). The 6-9, 235-pound forward is slated to miss up to four months after undergoing surgery to repair a partially torn right pectoralis muscle on Oct. 23.