Chris Wallace, general manager of the Grizzlies, said the team and Steve Francis mutually agreed earlier this week to negotiate a contract buyout. Francis hasn't been with the team in more than a week and is in Houston with his family.

"I'm not sure when it will happen, but we're working out (a buyout)," Wallace said. "With older guys, it's always a possibility that you'd head in this direction."

Francis, 31, is scheduled to earn $2.64 million this season, the final year of his contract.