Memphis general manager Chris Wallace says that the team hasn't finalized a deal with Allen Iverson yet, and that no deadline was given.

Wallace spoke about the courting of Iverson on WHBQ in Memphis.

"I like to never say that a deal's a deal until it's a deal if you know what I mean," Wallace said. "We had a very productive meeting [Monday] where both sides got to know each other and what are expectations were ... we go to hear Allen out and he got to hear us out and I thought it went pretty well."

He then discussed the lack of a deadline.

"Iverson, I think, will make a decision relatively soon. I can't tell you exactly to the hour on that," said Wallace, who was then asked about a deadline. "No, we didn't say anything like that. This is the first time that the Grizzlies and Allen Iverson had gotten together. So this was a getting to know each other type of meeting and getting everyone's cards laid out on the table."

Despite Iverson's status as a future Hall of Famer, he won't immediate jump to the top of the team's depth chart.

"He would come in like any player. He'd come in to camp, compete, get on the same page with the coaches and your other teammates and you take it from there. He indicated to us that he just wants to come in and help the team out, to get better, to win, and he'll shine during the process. I think Allen Iverson is going to be very fine with whatever role he would end up fulfilling in Memphis."