WEDNESDAY, 3:14pm: The Spanish website Marca.com (h/t Peter Edmiston of The Commercial Appeal) reports that Gasol could miss four to six months of action. The Grizzlies still haven’t issued an official projection for how long the big man will be out of commission.

5:33pm: The Grizzlies have confirmed the report regarding Gasol’s injury in a press release. The team’s statement read, “This morning at Campbell Clinic, Marc underwent a thorough evaluation by team physicians. During the course of this evaluation, a magnetic resonance imaging [MRI] revealed a fracture in his right foot. Marc is a cornerstone of our franchise, and we are focused on getting him healthy. Marc will be out indefinitely and a further update will be provided after the All-Star Break.”

TUESDAY, 5:16pm: The Grizzlies suffered a major blow today when it was revealed that Marc Gasol suffered a broken right foot and will be out of action indefinitely, Ronald Tillery of The Commercial Appeal reports (Twitter link). The injury occurred during the team’s game against the Trail Blazers on Monday night. The 31-year-old Spaniard re-signed with the team this past offseason on a five-year, maximum salary deal. Gasol suffered a sprained ankle in an early December, but he’s been relatively healthy since recovering from an MCL sprain he suffered in 2013. The Grizzlies hold the fifth playoff slot in the Western Conference, possessing a slim two game lead over the Mavericks.

With Gasol hurt and potentially lost for a significant chunk of time, the team will need to make a difficult decision regarding Ryan Hollins, whose second 10-day deal is set to expire on Wednesday. Teams may only ink players to a maximum of two 10-day pacts per season, so Memphis would need to ink the big man for the remainder of the season if it wishes to retain him. The team would gain a free slot to sign or acquire another player if Hollins is not retained. If the team looks to the trade market, possible targets may include Anderson Varejao, Omer Asik and Timofey Mozgov, though that is merely my speculation.

Gasol has appeared in 52 games this year, notching averages of 16.6 points, 7.0 rebounds and 3.8 assists in 34.4 minutes per contest. His career numbers are 14.3 points, 7.8 rebounds, 3.1 assists to accompany a slash line of .503/.182/.764.