Free agent guard Scotty Pippen Jr. has agreed to a two-year, two-way contract with the Memphis Grizzlies. Pippen's agent, Klutch Sports' Erika Ruiz, relayed the news to ESPN's Adrian Wojnarowski.

The Grizzlies later confirmed the news as well.

Pippen, whose father is Basketball Hall of Famer and six-time NBA champion Scottie Pippen, has averaged 18.2 points on 43.9 percent shooting, 6.4 rebounds, 5.8 assists and 2.8 steals per game in five matchups for the G-League's South Bay Lakers this season.

Pippen starred at Vanderbilt from 2019-2022, averaging 20.6 points per game over his final two seasons. He went undrafted out of college but landed with the Los Angeles Lakers on a two-way contract.

Pippen mainly played with the team's G-League affiliate, the South Bay Lakers, for much of the 2022-23 season but did make six appearances with the NBA team that year, averaging 2.3 points in 5.3 minutes per game.

"Quick explainer on Exhibit 10 contracts: It's a training camp deal for the minimum salary (around $850-900k) that usually includes a bonus up to $50k. The team then can waive him at the end of the preseason and make him a designated player for the G-League, or convert to a 2-way.

"The deal is non-guaranteed obviously, but the player can get the bonus on top of his G-League salary if he accepts playing in the G-League and stays with the team for 60 days. The bonus doesn't count toward the cap."

Pippen was waived at the end of the preseason on Oct. 16, and the Lakers then allocated him to the G League two weeks later.

However, he was still technically a free agent, as this write-up from the G League explains:

"29 of the 31 NBA G League teams are singly affiliated with an NBA franchise, but that does not mean that NBA franchises own exclusive rights to all of the players on their NBA G League roster (like in Major League Baseball).

"Outside of Two-Way Players and players on NBA Assignment, the majority of players in the NBA G League are available for any of the 30 NBA teams to sign (call up); these NBA G League players have signed contracts with the league rather than their individual team, so by NBA standards they are technically free agents."

And that's why Pippen was free to sign with the Grizzlies, who frankly need bodies at this point. They've been hit with a wave of injuries, specifically at guard, with Ja Morant out for the year (torn labrum) and Marcus Smart sidelined for six weeks with a right ring finger injury.

Pippen gives the Grizz a talented young player and more depth as the shorthanded team marches forward.