Cavs and Grizzlies make a multiplayer trade
The Memphis Grizzlies have agreed to a multiplayer trade with the Cleveland Cavaliers, slicing more than $6 million off their payroll to get under the luxury tax threshold, league sources told ESPN.com. Memphis would send Marreese Speights, Wayne Ellington and Josh Selby to Cleveland for Jon Leuer to slice more than $6 million off their payroll and get under the luxury tax threshold.
The Grizzlies would send big man Marreese Speights, guard Wayne Ellington and guard Josh Selby to the Cavs for big man Jon Leuer. Cleveland also would receive a future first-round draft pick in the deal.
A trade call to finalize the deal is scheduled for Tuesday.
Speights averages 6.5 points and 4.7 rebounds as a key big man off the bench for the Grizzlies but makes $4.2 million this season and has a player option at $4.5 million for next season. The Grizzlies owe Gay, Randolph and Marc Gasol nearly $50 million alone next year.
Ellington is averaging 5.5 points in 40 games off the bench for the Grizzlies (26-14), who stand fourth in the Western Conference and second in the Southwest, five games behind the San Antonio Spurs.
The Cavs were able to make the deal because they had more than $10 million in cap space in which to absorb Speights. That likely would mean the Grizzlies would receive a trade exception of more than $6 million that would be good for a year.
Selby has played in only 10 games this season, averaging two points. Leuer has played in nine games, averaging 2.4 points.