I think it is a good investment by the Memphis Player Development Club to sign him, play him enough to get in shape but not too much so that his knee pops and then trade him for a young player or a draft pick.
If the C's had kept him, I don't think he was ready to play and wouldn't have gotten enough chance see NBA action. He will get that with Memphis and then there might be more than a handful of teams potentially interested. If he came back to the C's, we could play him at PF against teams like Cle who have that kind of depth and then play him at SF in other situations. Since POB only plays during garbage time, no harm in putting him in street cloths to make room, once Perk is back.