According to reports, the Grizzlies have signed Kings/Pelicans/Kings guard Tyreke Evans to a 1-year, $3.3M contract. Evans' Memphis homecoming was first reported, as far as I can tell, by Geoff Calkins of the Commercial Appeal before ESPN's Adrian Wojnarowski reported it as well.
Evans at $3.3M is a "gamble on a guy with talent" deal I can get behind. Evans brings bench scoring, some ball handling, and size to the roster, and he can play with Conley as a guard or maybe also as a small forward in small lineups (though I don't think that's his strength). Plus, in Hoop City USA, there's no real consolation for the end of the "Grit and Grind" era, but bringing back a Memphis Tiger from the most recent set of glory days can't hurt.
The Grizzlies' free agency period is not over yet. Decisions still need to be made about JaMychal Green, which are largely dependent on what other offers he's able to get from other teams. Tony Allen is unlikely to return, but after a brief round of Clippers sign & trade rumors nothing has happened since. With Evans on the roster, it appears there are some further moves that will have to be made to get down to 15. Stay tuned.