Michael Conley Receives Big Extension. Why?

Michael Heisley to Grizzlies fans on announcing the Conley Extension

News broke yesterday that the Memphis Grizzlies have given starting point guard Mike Conley, Jr. a 5 year, $45 million extension.  Approximately $5 million is tied to bonuses that Conley isn't likely to reach (he has to become an elite PG, and the Grizzlies have to be a 50 win playoff team).

The big question though, is why sign Conley to such a big extension?  Why sign him to an extension at all?  The reason given is that Conley is a mere 23 years of age, and has shown big improvement during the preseason and 3 games.  Have the Grizzlies ignored the fact that over the last three years, Conley simply hasn't been that good?  He hasn't even been average.  This guy's inconsistency is the reason the Grizzlies have gambled on headcases like Jamaal Tinsley and Allen Iverson.  Its why they drafted Greivis Vasquez this summer and also why they had O.J. Mayo experiment at the point guard during Summer League.  Now he has one good week and you give him an extension, and not just any extension, but one that he likely wouldn't have even gotten in the open market after this year.

(More after the jump)