The deal can't become official until July 10 when the free agency moratorium is lifted.
Here's what Allen had to say about it:
Memphis stand up!!!! #GrizzNation— Tony Allen (@aa000G9) July 3, 2013
Known for his defense and toughness, Allen kind of embodies the identity of the Grizzlies, a blue collar, competitive, tough player that gets by on energy and effort.
Allen's deal is a bit interesting in that he'll be 35 when it expires. And at $5 million a year, he's going to be pretty well paid as a defensive specialist.
Allen, 31, averaged 8.9 points and 4.6 rebounds in 76 games last season.