The Grizzlies have given guard Marko Jaric permission to seek a trade.

If agent Bill Duffy is unable to find a home for Jaric, the two sides are expected to begin negotiating a contract buyout.

Jaric has two seasons and roughly $15 million left on his deal, which could make finding a trade partner difficult.

"This is pretty much a mutual thing," Duffy said Monday. "Very much cooperative between the Grizzlies and us. We would also likely consider a buyout if a trade is not tenable. This just gives us freedom to look around."

Grizzlies general manager Chris Wallace issued a statement on the situation as well:

"With the offseason additions of Allen Iverson, Marcus Williams and Sam Young, our backcourt has become crowded. "Therefore we have agreed with Marko Jaric and his representatives that he is permitted to seek out another situation that will provide him with a better opportunity to play. Marko is a proven NBA player and is deserving of such an opportunity."

The Grizzlies excused Jaric from reporting to training camp as a resolution is worked out.

Memphis coach Lionel Hollins is in the final year of his contract, and the team has no plans to extend his deal before it expires.

Hollins is entering his first full season as the team's head coach and has a host of new toys to play with, including Zach Randolph and Allen Iverson.

"He's a friend," Grizzlies owner Michael Heisley told the Memphis Commercial Appeal of Hollins. "We'll see how the season goes and I think it'll go well. Lionel did a fine job last season. But I'll address Lionel's future when the time comes. I'm not going to do that in the press."

Hollins insists that he isn't worried about what some would perceive as his lame-duck status.

"It's not a thought for me. I think about the job I'm supposed to do," Hollins said. "The only thing that matters is me putting forth the effort and getting the results I expect to get. The business side of that doesn't come into play.

"My being able to do the job won't be determined by (a contract) but by how much respect I garner from the group. Marc had another year on his contract. Did that keep him with the players' ear? Did it get him all that he wanted or needed to be successful? It's an easy term coach to throw out there. What makes me a lame-duck coach? If I do the job, I'll get another contract."

Grizzlies owner Michael Heisley acknowledged on Tuesday that he could end up taking a lot of criticism for signing Allen Iverson.

"I might end up with egg on my face. And if he turns out to be great, I'm not sure anybody will pat me on the back. But there's no way I wasn't going to try to get Allen Iverson," Heisley told the Memphis Commercial Appeal.

"Allen Iverson will be a big asset to this team. I'm willing to put myself out on this."

Allen Iverson confirmed over the weekend that he did in fact receive a contract offer from Olympiakos in Greece this offseason.

Iverson signed a one-year deal with the Grizzlies earlier this month after spending more time on the free agent market than he anticipated.

The guard was asked by the Greek newspaper 'Goal' whether he did in fact receive an offer. Iverson, who attended the Finals of the Eurobasket 2009 Tournament, confirmed previous reports.

Iverson added that he has a lot of basketball left and that a tenure in Europe isn't out of the question.

Memphis general manager Chris Wallace defended the team's offseason moves to the Boston Globe recently.

Many observers speculated that the Grizzlies decided to sign Allen Iverson for the sole reason of increasing ticket sales.

Wallace has denied the accusations, claiming that Iverson was added in hopes of curing the team's fourth quarter woes while also providing experience.

"The passion in which he plays the game every night, the intensity, the desire to win, the frustration when he loses, those qualities will be noticed by his teammates and will help us immensely," Wallace told the Globe, "because even during the controversial days of his career, I never once read an article that said Allen doesn't care, Allen is a good loser, or Allen doesn't play hard.

"He wears his emotion on his jersey, but that's very positive. It's very easy to get numbed by losing in the NBA when you are a team trying to build."

Allen Iverson gave playing in Europe some thought prior to signing a one-year deal with the Grizzlies.

Iverson is currently on a global tour with Reebok.

"Not yet, but I gave it a thought," Iverson told SLAM, when asked about how closely he considered Europe.

"It would had been a whole new experience, and I know I'm very popular all over Europe. My wife actually liked the idea, and I was intrigued by the possibility to face a new challenge, to visit new countries and play in front of different fans."

Then the Grizzlies began courting him and his outlook changed completely.

"In Memphis, I really believe we can win. If I look at all the young talent we have, I think we can be a good team. I really mean it. If not, He would not be telling me to keep playing, keep lacing up my shoes," he added.

Nuggets coach George Karl wants to see Allen Iverson succeed in Memphis.

Karl knows Iverson better than most, having coached the future Hall of Famer in parts of three seasons in Denver.

"I'm an A.I. guy, I hope this transformation he will give the opportunity to be a bench player a chance because I think he can become a great," Karl told WSCR in Chicago. "He knows the game, he's one of the all-time great scorers, little guy being successful; when he came in to this game no one could have predicted the career that he has had."

Karl hopes that Iverson is able to check his ego at the door while in Memphis, something he wasn't able to do in Detroit.

"...And, now that he's getting in whatever you want to call it, the twilight of his career, I hope he gives the sixth man, come off the bench, be a scorer off the bench, be a mentor to young players in Memphis, give it an opportunity. And, sometimes ego gets in the way of all of us - we all have at times trouble to realize, you know, we gotta do it this way. I think if AI realizes that he can me a mentor, he can be a great sixth man, Memphis has an interesting basketball team with Randolph, and A.I., and some of the changes they made this season. I think they have an opportunity to kinda be a surprise in the Western Conference."

Allen Iverson's business manager, Gary Moore, claims that the Pistons assured the guard a leadership role when they traded for him last November.

Obviously, that's not how things played out in Detroit. His new teammates were upset that management traded longtime point guard Chauncey Billups.

"Allen couldn't do anything about that," Moore told the Memphis Commercial Appeal. "When you lie to him, that affects him."

Moore added that Iverson sat down face-to-face with the Grizzlies before signing with the team.

"They were up front with him," Moore said. "When he sat down and met with them eye-to-eye, he said, 'I was just lied to, and it almost destroyed my career. What do you guys want from me? If you want me to just come here and sell tickets, you've got the wrong guy. If I come here, I want to win.' "

The signing of Allen Iverson has resulted in the biggest boom in ticket sales that the Grizzlies have ever seen.

"The last 48 hours it has been our biggest two days of sales since we started here," says Dennis O'Connor, Vice President of Ticket Sales for the Memphis Grizzlies.

The team is giving fans an Iverson jersey with the purchase of a season ticket package.

NBA commissioner David Stern says that the Grizzlies are very lucky to have signed Allen Iverson.

"I think they got lucky," Stern told the Memphis Commercial Appeal. "A bona-fide star and future Hall of Famer who still has lots of game left is going to prove to be a significant and helpful addition to the Grizzlies."

Stern believes that Iverson's experience will be a key factor in jump-starting the team's rebuilding plan.

"Given the way the team is constructed -- with it being a young team -- this is a chance for them to get better and get veteran leadership. It'll be very good for the team and good for the community," Stern added.