MEMPHIS, Tenn. -- The Memphis Grizzlies signed swingman James Posey to an offer sheet Wednesday.

Posey, a fifth-year veteran who averaged 10.8 points a game last season, is a restricted free agent with the Houston Rockets. Houston has 15 days to match the offer sheet.

After starring at Xavier University, Posey was named to the 1999-00 All-Rookie Team. He spent three seasons plus part of last year with the Denver Nuggets before being traded to Houston in December.

Posey set several career highs last season, including points, assists and minutes played.

The Grizzlies signed rookie free agent Theron Smith of Ball State to a two-year deal last week.