The Memphis Grizzlies exercised the third-year contract option on guard/forward Quincy Pondexter, guaranteeing his contract through the 2012-13 season, Grizzlies General Manager and Vice President of Basketball Operations Chris Wallace announced Tuesday.

Pondexter (6-6, 225) has averaged 4.4 points and 2.1 rebounds on .469 shooting in 14.9 minutes in 16 games this season after being acquired by Memphis from New Orleans on Dec. 24 for Greivis Vasquez.  The 23-year-old scored a career-high tying 14 points on Jan. 8 at LA Lakers, sinking a career-best seven field goals.

The all-time leader in games played (136) at the University of Washington, Pondexter holds NBA career averages of 3.2 points and 1.5 rebounds on .422 shooting in 82 games (six starts) for the Grizzlies and Hornets, who drafted the Fresno, Calif. native in the first round (26th overall) of the 2010 NBA Draft.

Winners of their last seven games, Memphis (10-6) will look to tie a franchise record with an eighth consecutive victory tonight when they visit the Portland Trail Blazers at 9 p.m. CST at the Rose Garden.  The game will be televised regionally on SportSouth HD.