MEMPHIS, Tenn.—Last summer was the NBA's Offseason of Excess, as a colorful cast of free-agent superstars paraded before the media and weighed nine-figure contract offers. Their negotiations were breathlessly reported. LeBron James had a television special to announce he was heading to the Miami Heat.

And then there was Tony Allen, a 29-year-old swingman who left the Boston Celtics to sign a relatively modest three-year, $9.5-million contract with the Memphis Grizzlies. The transaction ran in agate type in sports pages across...