Allen Iverson, Memphis Grizzlies agree to terminate contract - ESPN
The Grizzlies announced Monday in a statement that the team has ended its one-year contract with the 10-time All-Star and former league MVP in what it called a mutual agreement. Iverson was not placed on waivers by the 6 p.m. ET deadline on Monday so is expected to be waived on Tuesday, a league source told ESPN.com's Chris Sheridan. Under the agreement, Iverson will receive only a fraction of the $3 million he was scheduled to earn. If he clears waivers, he will become an unrestricted free agent on Wednesday night.
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