The Grizzlies recently presented point guard Damon Stoudamire with a buyout offer that would have required the 34-year-old to give back nearly 80 percent of his expected salary for next season.

Stoudamire is preparing to counter in hopes of joining a contender soon. Stoudamire is hopeful that he can sign as a free agent with Boston, which is looking for help behind Rajon Rondo.

His contract is for $4.6 million next season. But that number gets cut in half if Stoudamire averages less than 20 minutes and appears in fewer than about 55 games.

Negotiations toward a buyout will likely heat up Monday when Griz owner Michael Heisley is expected in town for the annual Martin Luther King Jr. Day game against the Chicago Bulls.

And it appears that Stoudamire’s immediate future will more likely involve a buyout rather than a trade. The Griz have already turned down a trade involving Stoudamire because the deal would have left the 13-year veteran in an undesirable position.

At the time Stoudamire’s agent, Aaron Goodwin, requested a trade or buyout in the wake of his client’s demotion, Heisley said his preference was to help Stoudamire get to a winner.