The Grizzlies entered this offseason in dire need of front court bulk and backcourt defense. They attempted to bolster the latter Wednesday by signing Houston Rockets free-agent swingman James Posey to an offer sheet worth $23 million over four years.

Posey, 26, received a contract that pays the full $4.9 million midlevel exception in the first year.

Because Posey is a restricted free agent, the Rockets have 15 days, or before Aug. 7, to match the deal. However, Posey's Chicago-based agent Mark Bartelstein said he believes his client will wear a Grizzlies uniform this season.

"Houston wanted him back. But they couldn't make a financial commitment until next year," Bartelstein said. "They're contemplating (a match). But they have a major luxury-tax burden."

The Rockets made Posey a qualifying offer of $2.445 million but likely won't pay nearly $5 million to retain him.

Should Houston pass on Posey as expected, the Griz would add immediate help at shooting guard in the event Michael Dickerson (sports hernia) can't play for a third season. Posey also would see action at small forward.