Grizzlies sign Josh Smith to $58 million offer

Aug 8, 2008 - 6:26 PM ATLANTA (Ticker) -- The Memphis Grizzlies have taken an aggressive approach to improve, signing Atlanta Hawks swingman Josh Smith to a five-year, $58 million offer sheet.

The Atlanta-Journal Constitution reported that the Grizzlies' offer came unexpectedly. The Hawks have seven days to match the offer or let Smith take his talents elsewhere.

Atlanta has said it would match any offer to the athletic Smith, who previously drew interest from the Philadelphia 76ers and Los Angeles Clippers.

Memphis, which went 22-60 last season, already has a pair of high-flyers in Rudy Gay and rookie O.J. Mayo.

Smith, 22, averaged a career-high 17.2 points and 8.2 rebounds last season, helping the Hawks make the playoffs for the first time since 1999. In the first round of the playoffs, Smith proved to be a major matchup problem for the eventual champion Boston Celtics.