Memphis Grizzlies small forward Chandler Parsons will likely undergo season-ending surgery for the third consecutive year, sources told ESPN.

The Grizzlies said Monday night that Parsons is out indefinitely with a partial tear of the meniscus in his left knee, which is not the knee he had operated on the previous two years. Sources said that a final decision on whether he needs surgery is likely to be made later this week after Parsons is further evaluated.

"To suffer a setback like this after working so diligently to rebound from the injury to his right knee is obviously tough," general manager Chris Wallace said in a statement. "That said, we know he will continue to work tirelessly to return to the court with his teammates and contribute.

Chandler Parsons, who signed a four-year, $94 million maximum contract to join the Grizzlies last summer, has been limited to only 34 games this season due to problems with both knees. Joe Murphy/NBAE via Getty Images

"Chandler has the full support of myself, Coach [David Fizdale] and the entire team, and we are all focused on getting him healthy," Wallace added in the news release.

Parsons, who signed a four-year, $94 million maximum contract to join the Grizzlies last summer, has been limited to only 34 games this season due to problems with both knees. Parsons has struggled when he has played, averaging career lows in virtually every category, including points (6.2 per game), rebounds (2.5), assists (1.6) and field goal percentage (33.8 percent).

Both of Parsons' seasons with the Dallas Mavericks ended prematurely due to surgeries on his right knee. He had hybrid microfracture surgery on that knee in May 2014 and a meniscus repair last March. Primarily due to his knee problems, the Mavs opted not to attempt to re-sign Parsons after he declined the player option for the final season of his contract last summer.

The Grizzlies have strictly managed Parsons' minutes since he made his Memphis in debut in November after missing the entire preseason and the first six games of the regular season. He soon started suffering pain in his left, non-surgically repaired knee and missed a month after being diagnosed with a bone bruise.