However, the team struggled with a 5–7 start as 71-year-old Hubie Brown retired from coaching due to "unexpected health problems".
The Grizzlies would lose their next four games under Lionel Hollins before replacing him with TNT analyst Mike Fratello.
Despite losing five of their last six games, the Grizzlies finished fourth in the Southwest Division with a 45–37 record, making their second consecutive trip to the playoffs.
Following the season, Bonzi Wells was traded to the Sacramento Kings, Jason Williams and James Posey were both dealt to the Miami Heat, and Stromile Swift signed as a free agent with the Houston Rockets.
For the season, they debuted a new logo and new uniforms that replaced the teal, brown, red, and black color scheme with blue, navy, yellow, and grey and added side panels to their jerseys and shorts.