Chris Wallace told ESPN.com Wednesday night that negotiations between Memphis and Allen Iverson have advanced to the point where the Grizzlies have made their first formal offer.
"We're heading into the home stretch before the season, and we have had interest in Allen all summer," Wallace said. "We've been in touch on a fairly consistent basis and had dialogue with his agent, Leon Rose, since the beginning of free agency."
Memphis is approximately $3.5 million under the salary cap for the 2009-10 season and thus could easily outbid Charlotte and Miami for Iverson.
Via ESPN
Also Courtesy of:RealGm
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