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Memphis is being petty. The flaw in your reasoning is that, in order for you to be right, it requires you to believe that Memphis has been trying to convince Iguodala to play all season long (or even at any point this season), and he has simply refused... That's not what has happened. There was a mutual agreement between Iguodala and the Memphis organization for him to sit at home, and the reason why it was mutual is because Memphis doesn't actually want to play him.
Now, there may be some Memphis Grizzlies basketball players and fans who are bent out of shape about Iguodala getting paid all that money, and not doing anything to help their team, but the Memphis Grizzlies organization itself doesn't want him to play. They were never going to play him. They didn't assign him a jersey number. They didn't even hold the perfunctory, boilerplate press conference/photo op that all organizations hold, when they acquire a player of Iguodala's stature. They told Iguodala before the start of the season, "Look, we're not going to be competitive, and we're not going to play you, so rather than have you sit around and be disgruntled because you're not playing, we'd rather you stay at home", and Iguodala was, like, "Cool. I don't really want to be part of a rebuild, anyway." The only reason this is a story is because it's close to the trade deadline, and Memphis is playing above their heads, and currently in contention for the playoffs, and all of a sudden, people are like, "Why is this guy who's making seventeen million dollars not playing, when he could be helping his team win games, with his veteran experience and leadership?" Except that the answer is, because the team doesn't want him to play! Nobody gave a **** about Iguodala not playing when the Grizzlies were 6-16. This is a non-issue.
And this is a win-win for the Grizzlies organization, because all they have to do is exactly what they have been doing, which is keep their mouths shut, and let their players and TUA fans give them free positive PR. Memphis traded for Iguodala because they thought they could squeeze at least two draft picks out of him. They already got one, during the initial trade, but it doesn't look like they're going to get another one, because the only teams that could use Iguodala, and might hypothetically be willing to trade for him, have already figured out that, after Thursday, Memphis loses all their leverage, so they're not going to offer them anything for him. Like, if you're the Rockets, or the Raptors, and you think that a player like Iguodala might put you over the top, why would you give up anything for him, when you know that, in about thirty hours, Memphis is going to be financially incentivized to buy him out of his contract, and you could just put in a waiver claim for him?
So, since Memphis has realized that they're probably not going to be able to get anything else for him, they plan to hold onto him, out of spite. If that isn't petty, then nothing is ever petty.