One day after

the Trail Blazers announced Oden had actually suffered a setback, leading to a restructuring of his one-year contract.

The Blazers said the new contract was negotiated because they are "less confident" Oden will be able to play this season. Oden, who had microfracture surgery on his left knee in November of 2010, hasn't played in a game in more than two years.

Oden on Thursday was examined by noted knee specialist Dr. Richard Steadman in Vail, Colo., after which he and one of his agents, Mike Conley Sr., declared progress, saying he was cleared to expand his rehabilitation to include basketball activities such as shooting, cutting and pivoting. The Blazers declined to comment on Thursday.

But upon further examination, it was determined that Oden has an issue with a non-weight bearing ligament. Oden has no symptoms and doesn't feel restricted, but the doctors are concerned with the fragility of the ligament.

"Following Greg's most recent physical examination and evaluation, we've determined that he has suffered a setback," team president Larry Miller said in a statement. "We're hopeful, but less confident that he will return to the court this season. We've stood by Greg from the day he was drafted and we continue to do so now with this agreement."

Before his Thursday exam, Oden had decided he would end his free agency and sign the Blazers' $8.9 million qualifying offer, which by league rules is a 25 percent increase from the last salary earned. Terms of the new contract were not revealed.

Oden, who turns 24 next month, has not played in more than two years because of repeated knee problems. He has had microfracture surgery on both knees – the right in 2007 before he played an NBA game, and the left last November. Both times he missed the entire season. He also had left knee surgery in December of 2009 after he fractured his patella while leaping to block a shot in a Dec. 5 game against Houston. It was the last time Oden has played in a game.

The former No. 1 overall pick has played in 82 games over four seasons, averaging 9.4 points and 7.3 rebounds.

"I'm obviously disappointed with the setback, but I'm as determined as ever to return to the court," Oden said in the release. "I appreciate the support of the Trail Blazers and our fans and that they continue to stand behind me."