Posted January 22, 2013 on
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The Memphis Grizzlies have agreed to trade Marreese Speights, Wayne Ellington, Josh Selby and a future first-round draft pick to the Cleveland Cavaliers for Jon Leuer.
The trade Tuesday is the first big move by the Grizzlies' new ownership and clears about $6 million in salary in getting Memphis under the luxury tax threshold this season. The Grizzlies rank fourth in the West and are 6-4 over their past 10 games after the NBA's best start this season.
The deal gives the lottery-bound Cavs another first-round pick to improve a team entering Tuesday night's home game against Boston with a 10-32 record - second-worst in the Eastern Conference. Speights also will help replace center Anderson Varejao who will miss the remainder of the season after developing a blood clot in his right lung.
Varejao remains hospitalized at The Cleveland Clinic.
The ownership group led by Robert Pera took over the Grizzlies on Nov. 5, and they had been scheduled to pay about $4 million in luxury tax this season with a payroll more than $74 million.
Speights is earning $4.2 million this season, while Ellington's salary is $2 million. So the trade helps Memphis keep its starters, including Rudy Gay and Zach Randolph, together the rest of this season hoping to make another postseason run by trading away reserves.
The 6-foot-10 Speights will help ease the loss of Varejao, who was leading the NBA in rebounding. Speights averaged 6.6 points and 4.7 rebounds as one of the Grizzlies' top reserves but had been averaging only 14.5 minutes this season coming off the bench in Memphis. His contract expires after next season.
Cleveland is trying to maintain salary-cap space and stay away from any maximum contracts so it can be active in free agency over the next two years. General manager Chris Grant has been doing all he can to attain assets to help the rebuilding, which is taking longer than expected.
''Marreese will strengthen our front court, while Wayne and Josh will add depth to our back court,'' Grant said in a statement. ''At the same time, we are adding a valuable asset with another future first round pick, while also maintaining our future flexibility.''
The Cavaliers also waived Jeremy Pargo to create room for the trade.
The Grizzlies already owe a first-round draft pick to Minnesota, so the Cavaliers will get Memphis' first-round selection after that. The selection is protected so Cleveland could only pick between Nos. 6 and 14 in 2015 with the pick protected only for the top five in 2017 and 2018.
Ellington, picked up in a trade from Minnesota last July, helped Memphis beat Miami on Nov. 11 with a career-high seven 3-pointers and 25 points. But Ellington has hit only 34 3s in his other 39 games this season. Selby has played in only 10 games this season.
Memphis gets 6-10 Leuer who is averaging 2.4 points in nine games. He was the 40th draft selection overall in 2011 by Milwaukee and was claimed off waivers by Cleveland in July. Leuer averaged 19.5 points and 12.3 rebounds playing with the Cavalier's D-League team, the Canton Charge.
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The Memphis Grizzlies and Cleveland Cavaliers completed a four player trade. The deal allows the Grizzlies to shed $6 million in payroll to slide under the luxury tax bar.
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According to multiple reports, including Yahoo!'s Marc Spears, the Cleveland Cavaliers have traded Jon Leuer for what at first appeared to be half of the NBA.
Those players have since been identified as Memphis Grizzlies' Marreese Speights, Josh Selby and Wayne Ellington.
There is also a draft pick included in this package that will be sent to Cleveland as well, but...
MEMPHIS, Tenn. -- The Memphis Grizzlies have agreed to trade Marreese Speights, Wayne Ellington, Josh Selby and a future first-round draft pick to the Cleveland Cavaliers for Jon Leuer.
The trade Tuesday is the first big move by the Grizzlies' new ownership and gets Memphis under the luxury tax threshold this season. The Grizzlies rank fourth in the West and are 6-4 over their...
In the land of repurposed jerseys, Cleveland fans can feel free to dust off those of Jamario Moon, Darius Miles, JJ Hickson and Larry Hughes kits. Ealier this week when Cleveland Cavaliers general manager Chris Grant somehow managed to turn Jon Leuer into power forward Marreese Speights, shooting guard Wayne Ellington and point guard Josh Selby as well as a first-round pick that...
The Grizzlies have agreed to trade Marreese Speights, Wayne Ellington, Josh Selby and a future draft pick to the Cleveland Cavaliers for Jon Leuer, a source confirmed Tuesday morning.
The move, which will save roughly $6 million, will allow Griz management to avoid a $4 million luxury tax bill this season.
The future pick is a protected first-round pick in 2015. The Grizzlies will...
The Cleveland Cavaliers have landed forward/center Marreese Speights, guard Wayne Ellington, guard Josh Selby and a first-round draft pick from the Memphis Grizzlies for forward Jon Leuer, the team announced Tuesday. "Marreese will strengthen our front court, while Wayne and Josh will add depth to our back court. At the same time, we are adding a valuable asset with another...
The Memphis Grizzlies and the Cleveland Cavaliers have agreed to a multiplayer trade, according to an ESPN.com report. The deal would allow the Grizzlies to slice $6 million in payroll and get under the luxury tax threshold. Memphis would deal Marreese Speights, Wayne Ellington and Josh Selby to the Cavs for Jon Leuer. Cleveland also lands a future first-round pick. Speights...
The Memphis Grizzlies have agreed to trade Marreese Speights, Wayne Ellington, Josh Selby and a future draft pick to the Cleveland Cavaliers for Jon Leuer, according to a source.
The Grizzlies will save approximately $6 million with the trade, allowing management to avoid $4 million in luxury tax penalties.
The trade will allow the Grizzlies to keep Rudy Gay without tax...
EDIT: It appears this trade is agreed upon and just waiting for league approval.
According to ESPN’s Brian Windhorst, the Cleveland Cavaliers and Memphis Grizzlies are in talks on a deal that would see Jon Leuer sent to Memphis and Marreese Speights, Wayne Ellington, and Josh Selby coming to Cleveland. Per Windhorst, draft picks would also be included in the deal.
The Memphis Grizzlies have agreed to trade Marreese Speights to the Cleveland Cavaliers, along with Josh Selby AND Wayne Ellington, in return for Jon Leuer. Yikes. Seems like a HUGE package for Jon Leuer who didn't even see the court in Cleveland. This is a great trade for the Cleveland Cavaliers as they fill in the void left by Anderson Varejao being out for the rest...
Maybe the Cavaliers should change their popular slogan from All for One to One for Three (and a first-round draft pick).
Thats what general manager Chris Grant did on Tuesday --sending reserve big man Jon Leuer to the Memphis Grizzlies for forward Marreese Speights, shooting guard Wayne Ellington and point guard Josh Selby. The Cavs also obtained a first-round draft pick in the...
CLEVELAND The Cleveland Cavaliers have acquired forwardcenter Marreese Speights, guard Wayne Ellington, guard Josh Selby and a future first round draft pick from the Memphis Grizzlies in exchange for forward Jon Leuer, Cavaliers General Manager Chris Grant announced today from Cleveland Clinic Courts. The Cavaliers also waived guard Jeremy Pargo.
Marreese will strengthen our front...