The Memphis Grizzlies are losing guard Mike Miller but gaining free-agent Vince Carter.
Carter and the Grizzlies reached agreement on a three-year, $12 million contract Friday, Yahoo Sports reported, with the third yearof the deal partially guaranteed.
Miller, meanwhile, announced on his Instagram account that he was leaving Memphis to pursue other opportunities. He is hoping to join LeBron James with the Cleveland Cavaliers.
"Just informed the Grizz are going in another direction," Miller wrote. "I completely understand, but wanted to thank you so much for everything. Awesome city. Awesome fans. Thank you for the opportunity. I will always love Memphis #letitfly."
The 37-year-old Carter will help fill the void left by Miller in Memphis. In three seasons with the Dallas Mavericks, Carter averaged 11.9 points. One of his most memorable shots for the Mavs was the buzzer-beater against the San Antonio Spurs in Game 3 of the Western Conference first-round playoff series this spring.
The Mavericks wanted Carter to remain in Dallas but were restricted in the amount they could pay him after giving a three-year, $46 million offer sheet to Houston Rockets restricted free agent Chandler Parsons.
Carter, a 16-year veteran, has career averages of 20.2 points, 4.9 rebounds and 3.7 assists.