The Memphis Grizzlies signed Tyus Jones to a three year, $24 million offer sheet, according to a report by Shams Charania of The Athletic.

Jones is a restricted free agent of the Minnesota Timberwolves, which means that the team can match the Grizzlies' offer sheet within three days.

NBA Insider Adrian Wojnarowski reported that the Grizzlies were able to sign Jones to the offer sheet after creating cap flexibility following the trade of Delon Wright to the Dallas Mavericks.

Jones, a four-year veteran, averaged 6.9 points and 4.8 assists in 22.8 minutes per game last season, all of which are career highs. Those numbers aren’t exactly eye-popping, but considering that he's the Wolves' third-string point guard behind Jeff Teague and Derrick Rose, those are already quite decent.

One can argue that $24 million over the next three years is an overpay for someone like Jones, so it is possible that he will get more opportunities with the Grizzlies next season. He's still just 23 years old, which means that if he shows a significant amount of improvement, he could potentially be a part of Memphis' long-term future.

The Grizzlies are in rebuild mode at the moment, and they are collecting draft picks and young players in preparation for coming seasons. They have Ja Morant and Jaren Jackson Jr. to build around, and they're hoping that by adding someone like Jones, they will be able to find another young player that can make an immediate impact with the team.

Now Memphis will just have to hope that the Wolves don't match their offer sheet.