Greg Oden

The Portland Trail Blazers have come to terms with center Greg Oden on a one-year deal, the team announced today.

The contract agreed upon today comes after both sides mutually agreed to negotiate a new deal that is independent of the qualifying offer.

“Following Greg’s most recent physical examination and evaluation, we’ve determined that he has suffered a setback,” said Trail Blazers President Larry Miller. “We’re hopeful, but less confident that he will return to the court this season. We’ve stood by Greg from the day he was drafted and we continue to do so now with this agreement.”

Oden, 23, has averages of 9.4 points (57.7% FG), 7.3 rebounds, 1.43 blocks and 22.1 minutes in 82 games (60 starts). He has notched 21 double-doubles and grabbed 10-plus rebounds 26 times.

“I’m obviously disappointed with the setback, but I’m as determined as ever to return to the court,” said Oden. “I appreciate the support of the Trail Blazers and our fans and that they continue to stand behind me.”

The first overall selection in the 2007 NBA Draft out of Ohio State, Oden missed his rookie 2007-08 campaign after undergoing microfracture surgery on his right knee. He would later miss the 2010-11 season after microfracture surgery was performed on his left knee.