Cotton is expected to sign a 10-day contract with the Grizzlies on Saturday, Chris Vernon of ESPN reports.
The Grizzlies had an injury exception available, so they'll use it to sign Cotton, who played three games with the Suns earlier in the season and has most recently spent time in the NBA D-League. In his last six games with the Austin Spurs of the D-League, Cotton has averaged 19.3 points, 3.3 rebounds and 4.0 assists over 33 minutes. He'll slot in as depth at point guard behind Jordan Farmar for the Grizzlies. Ray McCallum is expected to be released in the corresponding move.