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.