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Iverson, Grizzlies agree to part ways

Updated: November 17, 2009, 11:08 AM ET
ESPN.com news services

MEMPHIS, Tenn. -- The Allen Iverson experiment with the Memphis Grizzlies is over.

Memphis announced Monday 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 ...

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