Michael Heisley, the owner of the Memphis Grizzlies, has shot down reports claiming that the team are about to sign Allen Iverson.

"Absolutely not," Heisley said Saturday. "Iverson wasn't even part of the conversation."

Memphis pulled their US$3 million qualifying offer to power forward Hakim Warrick, adding more salary cap space.

"I think we decided we wanted some flexibility," Heisley said. "But the idea that there is a target is completely false. As for Iverson, I think he's trying to get with a team like L.A. (Clippers) or Miami or someone like that."

"Frankly, I've tried to tell everybody that I don't think we're at the top of Iverson's list, but no one wants to listen. All it is, we're basically opening up cap room for us."