Allen, 27, is 6-foot-4 and is averaging 10.8 points and shooting 43 percent on 3-pointers in 11 games entering Friday. He has put up similar numbers over the past two seasons with the Bucks and Grizzlies.
The Bucks signed Allen to a two-year, $20 million extension ahead of last season, and he responded with a career-highs of 11.1 points and 41 percent on 3-pointers. He was originally drafted out of Duke by the Jazz with the No. 21 overall pick in 2018.
As an aside, the Bucks reportedly have an interest in Suns forward Jae Crowder, who has yet to play this season after requesting a trade.