Chris Wallace named Grizzlies GM

Updated: July 29, 2014, 5:14 PM ET
By Marc Stein | ESPN.com

The Memphis Grizzlies announced Tuesday that Chris Wallace has been reinstalled as the team's full-time general manager.

Sources close to the situation told ESPN.com that Wallace, who was named interim GM on May 19 when Grizzlies controlling owner Robert Pera unexpectedly removed CEO Jason Levien and assistant general manager Stu Lash, has received a new three-year deal that includes a team option heading into the third season.

"We are very pleased to announce Chris Wallace ...

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