Grizzlies general manager Chris Wallace is in the final year of his contract, which will expire on June 30.
The team has presented Wallace with a multi-year offer that only needs his signature to be finalized. The Grizzlies want a deal in place by next week's NBA Draft.
"We've discussed his situation, and we have a clear understanding of his contractual situation and his role in the company," Memphis owner Michael Heisley said. "I feel he's done a decent job."
Wallace declined to comment when asked Wednesday about a possible contract extension.