Memphis Grizzlies coach Lionel Hollins has certainly become a hot commodity around the league since his team's Western Conference playoff exit, but after talks on a contract extension have stalled over the weekend, he's likely done as Grizzlies head coach.

After several days of discussions with amongst management, Hollins and his representation, the sides were unable to seriously come to terms on a potential contract extension.

According to Yahoo! Sports, the Grizzlies granted Hollins permission to speak with other teams about vacant coaching positions on Sunday, possibly making way for Hollins to have a future in Brooklyn coaching the Nets.

Hollins led the Grizzlies to a franchise best of 56 wins this season and with playoff wins over the Los Angeles Clippers and Oklahoma City Thunder, he's considered one of the hottest coaches to hit the market.

After Nets GM Billy King announced the decision to not bring interim coach P.J. Carlesimo back for a new contract after the team exited the playoffs, King made it clear that the franchise would not rush into making a decision.

"We're going to take our time," the GM said. "If it takes a month, it'll take a month."

Hollins' deal with the team ends on June 30.

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