"Guard Sam Young will remain with the Grizzlies, and the team is on the verge of making its first move to keep center Marc Gasol.

The Griz will soon exercise a contract option on Young in order to secure his services for the 2011-12 season, according to a source with knowledge of the situation.

Memphis will also extend a $4.5 million qualifying offer to Gasol, making him a restricted free agent and giving the Griz the right to match any contract offer the 7-footer receives this summer.

Griz owner Michael Heisley has said he plans to retain Gasol amid expectations that the Spaniard will generate great interest once free agency begins. The Griz have until June 30 to exercise the options on Young and Gasol but plan to do so this week.

Team executives are still discussing whether to extend a $2 million qualifying offer to backup center Hamed Haddadi by the June 30 deadline, which is also the day the league's collective bargaining agreement is set to expire. A lockout could begin July 1, the day free agency would begin, but no deals will be signed until a new CBA is in place.

The qualifying offer to Gasol was expected so the Griz could maintain a certain level of control over his future.

Gasol just finished his third season and has been a major component to the Grizzlies' rise in the Western Conference. Gasol's performance during the Grizzlies' historic playoff run cemented his status on the team, and increased his stock around the league as a top-five center.

He averaged 15 points, 11.2 rebounds and 51 percent shooting in 13 postseason games before the Griz were eliminated by the Oklahoma City Thunder in Game 7 of the Western Conference semifinals."