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Smith, 24, debuted for the Rams in 2019 and was instrumental as head coach Mick Downer’s roster made the semi-finals of last season’s NBL Showdown.
The former Canterbury under-19 representative and Lincoln University player joined the Rams after completing a US college stint with Texan Wesleyan University.
“In the best possible way we describe Sam as our team’s Swiss Army Knife,” Downer said.
“He’s an all-rounder who can do a job at both ends of the court, he plays multiple positions and has a versatile skill set.”
Tauranga-born Smith comes into a squad already featuring newcomers or re-signed players, Taylor Britt, Joe Cook-Green, Jack Salt, Quintin Bailey, Deshon Taylor and EJ Singler.
The season tips off on Anzac weekend, with the Rams opening their campaign away from home against the Wellington Saints on April 30.