Grizzlies Intend To Sign Gilbert Arenas

5:25pm: The Grizzlies are on the verge of signing Arenas and the guard will sign a one-year deal for the prorated portion of the veteran's minimum, sources told Alex Kennedy of 

4:56pm: Gilbert Arenas worked out for the Grizzlies today and was impressive enough that the team is planning to sign him for the remainder of the season, reports Ronald Tillery of the Memphis Commercial Appeal.

According to Tillery, Arenas is scheduled to take a physical later today. If he passes it and agrees to accept a pro-rated portion of the veteran's minimum salary, Memphis will bring him aboard.

Arenas, 30, was amnestied by the Magic prior to the season and hasn't played in the NBA since then. He worked out for the Lakers earlier this year, but Los Angeles decided not to sign him. If Arenas joins the Grizzlies, Memphis won't need to make a corresponding move, since the team currently has two open roster spots.

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