Grizzlies, T-Wolves Swap Cunningham, Ellington

The Grizzlies and Timberwolves have agreed to swap Dante Cunningham and Wayne Ellington, according to Ronald Tillery of the Memphis Commercial Appeal (Twitter link). There had been rumblings over the last couple weeks that the trade would be consummated soon, but the T-Wolves needed to work through cap issues before making the deal official.

Financially, the deal works out almost perfectly, as the Grizzlies take on Ellington's $2,083,042 salary, while Cunningham and his $2,090,000 salary head to Minnesota. Ellington is in the final year of his rookie deal, while Cunningham has one more team option for 2013/14. From an on-court perspective, Ellington joins a Grizzlies' backcourt that has also added Jerryd Bayless and was in need of a shooter. Cunningham will add size to a T-Wolves' frontcourt that includes Kevin Love, Nikola Pekovic, Derrick Williams, and Greg Stiemsma.

Having moved Cunningham, the Grizzlies will look to re-sign Hamed Haddadi for something close to the minimum, tweets Tillery. The Wolves, meanwhile, still need to officially finalize deals for Stiemsma, Alexey Shved, and Brandon Roy.

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