ESPN reports that the Grizzlies are set to extend forward Ed Davis off his rookie contract before the October 31st deadline.

The Grizzlies' Davis ranks as the sleeper of this extension class after he was barely used by former Memphis coach Lionel Hollins upon arriving in Memphis in late January in the Rudy Gay trade. Extensions are historically rare for role players but Davis is regarded in some corners as the heir to Zach Randolph's frontcourt spot alongside Marc Gasol with Z-Bo down to this season and next season's $16.9 million option left on his contract at 32. Though it remains to be seen if negotiations progress to the serious stage sources say that Davis' camp and the Grizzlies have been discussing a deal this month.

via NBA: Deadline nears from Class of 2010 extensions - ESPN.

The Grizzlies are extremely high on Davis. He was the real gem of the Rudy Gay trade for them not Tayshaun Prince. He's a high-production forward with good muscle interior production and great athleticism. In the Grizzlies' defensive scheme he can be tremendous.

Maybe the smartest part about this is that with him behind Randolph and with him not having had a breakout year they can likely get him back for a better value than what he'd make in restricted free agency if he had a big season.