Grizzlies owner Michael Heisley has cleared up speculation that their decision not to bring Hakim Warrick back means they are close to signing Allen Iverson.

"Absolutely not," Heisley said Saturday. "Iverson wasn't even part of the conversation."

Memphis renounced their $3 million qualifying offer to Warrick, clearing up additional cap space late last week.

"I think we decided we wanted some flexibility," Heisley said. "But the idea that there is a target is completely false. As for Iverson, I think he's trying to get with a team like L.A. (Clippers) or Miami or someone like that.

"Frankly, I've tried to tell everybody that I don't think we're at the top of Iverson's list, but no one wants to listen. All it is, we're basically opening up cap room for us."