Greg Oden isn’t leaving Portland, which means that the ginormous cut-out can remain at the Rose Garden. (Don Ryan / AP)

His agent, Bill Duffy, told the Oregonian’s Jason Quick that Oden would sign a one-year, $8.9 million qualifying offer when free agency begins Friday.

ESPN reported earlier this week that the Miami Heat would pursue Oden, who was the No. 1 overall pick in the 2007 but hasn’t played since 2009 because of knee injuries.

But Oden had his reasons for wanting to stay in Oregon.

“The mission has not been accomplished,’’ Duffy told the Oregonian. “The Blazers have stood by Greg and now he is going to stand by them.’’