28-year-old Memphis Grizzlies guard Juan Carlos Navarro signed a five-year contract with his old team, FC Barcelona, leaving the NBA after his rookie year.

Navarro averaged 10.9 points and 2.2 assists per game, made 156 three-pointers (two shy of the rookie record), and was named to the NBA All-Rookie Second Team.

The Grizzlies plan on extending a qualifying offer to Navarro so they'll retain his rights in the event he decides to return to the NBA at some point.

Navarro will also play for the Spanish national team at the Beijing Olympics this summer.

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