Nick Calathes has reached an agreement with the Memphis Grizzlies after the Dallas Mavericks traded the overseas prospect to Memphis for future draft considerations. Calathes is expected to sign a two-year deal worth just under $2 million with the Grizzlies reports ESPN's Marc Stein with a team option on the second year.

The Mavericks acquired Calathes' rights in the second-round of the 2009 NBA Draft but he's spent the last four seasons overseas. He played in the Greek Basketball League for Panathinaikos for three years then signed a two-year deal with Lokomotiv Kuban -- a club with the VTB United League in Russia -- in 2012.