Update: Stephens signed a two-year, partially guaranteed contract with the Grizzlies on Thursday, Shams Charania of Yahoo! Sports reports.
Analysis: Stephens has played a total of six games during his NBA career, all of which came during the 2013-14 season. He was signed as a training camp body for the Pelicans and Cavaliers during the past two seasons, but ultimately failed to stick on either roster. Stephens' chances of making the Grizzlies' roster also appear slim, but he'll look to build on his strong summer league showing nonetheless. While suiting up in six contests for the Grizzlies this summer, Stephens averaged 10.3 points and 4.0 rebounds per game.