CSNPhilly.com first reported the offer.

Memphis Grizzlies owner Michael Heisley told the AP on Tuesday that he spent almost an hour on the phone with Stefanski before his meeting with Iverson.

"I told him I thought Allen had the game and I thought he would be a positive contribution to his team and was sorry it didn't work out with us. I thought to get back with Philadelphia, it was a good chance it would work out for them. I feel extremely happy about it," Heisley said.

"Quite frankly, I'm sorry that we couldn't work it out between us and Allen. I don't feel duped. I don't feel upset. I quite frankly arranged for the severance, which we could've stopped, which would've stopped him from being able to play for anybody. I did it so he would have an opportunity to go play."

The 34-year-old Iverson began an indefinite leave of absence on Nov. 7 to deal with a personal issue.

Heisley said he knew exactly what the personal matter was, but he refused to discuss that issue.

"I hope it's cleared up," he said.

Heisley believed Iverson would return at first, then said he thinks Iverson did not want to rejoin the Grizzlies for reasons that could have included retirement or possible interest from other teams.

"I hope he comes back and I hope he has a great career with them," Heisley said.