UPDATE: As expected, the Mavericks completed the trade of guard Nick Calathes to the Memphis Grizzlies (in exchange for a 2016 second round draft pick.) Per the Dallas Morning News: “Calathes (6-6, 194) was the 45th pick overall pick in the 2009 NBA Draft and was acquired from the Minnesota Timberwolves in exchange for the future second round pick of the Portland Trailblazers that the Mavericks obtained in a trade on June 24, 2009. The Winter Park, Fla., native was an early entry candidate into the 2009 Draft after completing his sophomore year at the University of Florida. In 2008-09, the U.S.-Greece dual citizen averaged 17.8 points and 6.4 assists per game as a Gator.”

According to ESPN, the Mavericks are looking to ship out second-round pick Nick Calathes. Dallas and the Memphis Grizzlies are reportedly working out a trade: “The Mavericks acknowledged in recent weeks that they were likely to deal Calathes — their 2009 second-round pick who spent the past four seasons playing overseas — if a deal was struck to sign Israeli point guard Gal Mekel. Sources said that Dallas has since been in discussions with multiple teams on a Calathes trade, but is now on the verge of sending the pass-first point guard to the Grizzlies after Calathes established himself as one of the best floor generals in Europe last season. The 6-foot-6 point guard, now 24, visited Dallas in June to meet with team officials and audition for Mavs coach Rick Carlisle. But Dallas opted to offer a three-year guaranteed deal at the league minimum to Mekel, who then turned in a strong summer league performance running the team under Mavs assistant Monte Mathis. Calathes was determined to jump to the NBA this season after averaging 12.9 points, 6.7 assists and 5.9 rebounds and earning MVP honors in the EuroCup for leading Russia’s Lokomotiv Kuban to the second-most prestigious team title in European club ball. Houston Rockets guard Patrick Beverley, who rose to prominence during last season’s playoffs, was EuroCup MVP in 2012.”