"Agent informed me that Memphis made us an offer on yesterday. Stay tuned," Iverson wrote on Twitter on Wednesday.

The deal is believed to be $5 million for one year, The Detroit News reported.

Grizzlies GM Chris Wallace refused to confirm whether the team has made Iverson an offer.

"We have had a strong level of interest in Allen Iverson since the beginning of free agency and we have made that very clear to him," Wallace said in a statement.

Offseason interest in Iverson has been mild. He averaged 17.4 points per game on just 41.7 percent shooting for the Detroit Pistons after an early-season trade from Denver. The 15-year veteran has averaged 27.1 points a game for his career.

The Associated Press contributed to this report.