Pau Gasol has re-signed with the San Antonio Spurs, it was announced on Monday.
Free agent Gasol - a six-time NBA All-Star - has signed a new three-year contract to remain in San Antonio.
Terms were not disclosed, but Gasol's deal is reportedly worth $48million with the third year partially guaranteed.
The 37-year-old had opted out of the final year of his contract in late June, reportedly to give the team greater salary flexibility to pursue a top-end free agent. That option was worth $16.2m.
As it turned out, the Spurs - who lost out in their bid to land free-agent guard Chris Paul - did not need the cap space.
Gasol averaged 12.4 points and 7.8 rebounds per game in his first season with the Spurs.
In 1,119 career games (1,081 starts), the two-time NBA champion has averaged 17.9 points, 9.4 rebounds, 3.2 assists and 1.65 blocks while shooting .510 (7,651-15,008) from the floor and .754 (4,569-6,062) from the free throw line in 34.7 minutes.
He has appeared in 131 career play-off games, averaging 15.8 points, 9.3 rebounds, 3.2 assists and 1.77 blocks in 36.1 minutes.