The Memphis Grizzlies are trading veteran guard Mike Conley to the Utah Jazz, Shams Charania of The Athletic reports. In exchange, the rebuilding franchise will receive a package including two first-round picks, Grayson Allen, Jae Crowder and Kyle Korver.
Memphis-bound, per Adrian Wojnarowski of ESPN, are the No. 23 pick in this year’s draft and a protected future first-rounder. That future first-rounder could convey as early as next year but comes with particular protections, as Chris Herrington of the Daily Memphian lays out.
The Grizzlies will get the first-rounder if it falls within the 8-14 range next year. If not, the same protection will apply in 2021. The protections decrease from there to top-6 six in 2022, top-3 in 2023 and top-1 in 2024 before converting to two second-round picks in 2025.
We wrote about the Jazz stepping up as frontrunners to land Conley earlier this week, giving them a top-rate veteran point guard as they look to compete in the Western Conference. Conley now will suit up alongside Donovan Mitchell in a dynamic backcourt.
According to ESPN’s Bobby Marks, the two clubs won’t be able to make the deal official until July 6, when the Jazz can absorb Conley’s deal with cap room. That would mean that Utah will make the No. 23 pick on behalf of Memphis tomorrow night.
Although Conley’s contributions will give the Jazz a level of depth they haven’t seen in their previous postseason runs, he does come with a substantial price tag. Conley will earn $32.5 million in 2019-20 and then $34.5 million the next.
The Grizzlies will have the chance to cut some costs by waiving Korver, something the veteran may be amenable to if he’s looking to play for a contender. According to Basketball Insiders, only $3.4 million of Korver’s $7.5 million is guaranteed and the deadline for the team to waive him by is July 7.