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Grizzlies, Raptors, Pistons Finalize Rudy Gay Deal

8:23pm: The Raptors sent out a press release confirming the deal for all three teams. The second-rounder headed to the Grizzlies is Toronto's own 2013 pick, and Memphis is receiving cash from the Raptors as part of the deal, the statement notes. 

8:20pm: Keith Langlois of tweets that Detroit's side of the deal is official, and that Calderon will join the team in time for Friday's game. Since it was the Pistons-Grizzlies part that seemed to have hit a snag earlier, rather than the Raptors-Grizzlies end of it, the swap appears to be squared away. Pistons GM Joe Dumars has released a statement, as Vincent Goodwill of the Detroit News passes along (All Twitter links).

7:28pm: The trade call has ended, meaning the deal is now official, a source tells Ken Berger of (Twitter link).

6:55pm: The trade call has been delayed slightly, but it's still going on, tweets Doug Smith of the Toronto Star, who adds that the deal is still going to happen.

6:18pm: Goodwill now hears from a source who says the trade will indeed go down (Twitter link).

6:06pm: A source tells Vincent Goodwill of the Detroit News there's "one hangup" in the deal, though Goodwill doesn't specify what it could be (Twitter link).

5:56pm: The Pistons' side of the trade has not yet been finalized, Aldridge notes via Twitter, though with the trade call scheduled in a few minutes from now, it's likely we'll soon have official word. Both Prince and Daye are inactive for Detroit's game tonight.

5:33pm: The Raptors will likely waive and buy out the rest of Haddadi's two-year contract, reports Ken Berger of (Twitter link). Haddadi is making $1.3MM this year and is due a partial guarantee of $200K on his fully $1.398MM salary next year. Under terms of the new CBA, the Grizzlies will not be allowed to sign Haddadi again for one year.

5:13pm: The Grizzlies, Raptors and Pistons have all reached agreement on a three-team trade. ESPN's Marc Stein reported the Grizzlies have acquired Jose Calderon and Ed Davis from the Raptors in exchange for Rudy Gay and Hamed Haddadi. TNT's David Aldridge reports the Pistons will receive Calderon from the Grizzlies in exchange for Tayshaun Prince (Twitter link). Stein added that Austin Daye is also headed to Memphis, and noted the Grizzlies will get a second-round pick from the Raptors as well.

The trade call will be placed to the league office at 7pm Eastern, tweets Adrian Wojnarowski of Yahoo! Sports. When the trade becomes official, it will end several weeks of speculation about Gay's future in Memphis, as the Grizzlies look to avoid becoming a repeat taxpayer. It also ends months of chatter about Calderon in Toronto. The Pistons apparently beat out the Mavericks for the point guard, as Dallas refused to part with Vince Carter in any potential deal, Stein tweets.

The Grizzlies save significant money in the deal, as the combined salaries of Prince, Daye and Davis add up to $11.9MM, much less than the total of $17.8MM that Gay and Haddadi are getting. Daye can come off the books next season, as he's a restricted free agent this summer. Davis has one more season left on his rookie deal, at $3.15MM, and is set to hit restricted free agency in 2014 unless the Grizzlies extend his deal. Gay's contract runs through 2014/15, a player option season in which he's due to make $19.3MM. The Grizzlies are now $8MM under the luxury tax, which could give them more flexibility to make other moves this season, as Ken Berger of points out (Twitter link). The Grizzlies will pay out $37.2MM less as a result of the moves, Berger adds.

Technically, the deal is actually a pair of two-team trades, rather than one three-team trade, notes Mark Deeks of ShamSports (Twitter link). The Raptors, operating exclusively with the Grizzlies, wind up with Gay's sizable contract, adding roughly $5MM to their payroll, which was at about $61.2MM. They're still well below the $70.307MM tax line, and figure to remain that way even when DeMar DeRozan's four-year, $38MM extension kicks in next season.

The Pistons, meanwhile, part ways with the last remaining member of their 2004 championship team, bringing in a point guard to mentor second-year man Brandon Knight. It also clears cap room, since Calderon's expiring $10.56MM contract will come off the books this summer, while Prince is signed through 2015.

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12 thoughts on “Grizzlies, Raptors, Pistons Finalize Rudy Gay Deal

  1. $22264602

    Raps finally get their start SF ( although having a down season) yet give up a promising Davis , a bitter sweet type of trade for the Raptors. Valanciunas panning out will be crucial for them going forward assuming they still dump Bargs when he’s healthy.

  2. Adam boniface

    Finally a great player! hello Rudy, welcome to T.O

  3. mgsports

    Good Trade,

  4. JordÃ…n Judd

    Finally all this gay talk will seize!

  5. DieHardMsFan

    Don’t get this trade from the Grizzlies perspective. Sure they want to get rid of Gay’s contract so that they will be under the luxury tax, but they are built to win. In a close game who do they give the ball to? I don’t see anyone on the roster who can create their own shot and/or beat someone off the dribble (Gay isn’t the ideal player for this but he was the best they had)I don’t know just really not seeing it from the Grizzlies perceptive. When you have a chance to win you go all out. They had a two year window and I think they just blew it.

    • Hec4Mets

      They needed a bench which they didn’t have with the Cavs trade they did earlier…Prince is no slouch on defense and can score yes he isn’t a go to scorer but the grizzlies have a lot of options to score now.

      • DieHardMsFan

        Don’t get me wrong I love Prince as a role player due to his defense and alright scoring, but he isn’t someone I want with the ball in their hands with 10 seconds to go in the game. They don’t really have that kind of player now. Sure Gay wasn’t the ideal player for those situations due to his poor outside shooting but he was the best the Grizzlies had. With their D, I would think they will play a lot of close games in the playoffs and that should be a priority for them.

    • alphakira

      I can easily see Orlando looking for shoppers for Reddick before he’s a free agent and Memphis may be wise to inquire.

      • DieHardMsFan

        Reddick is a nice scorer, but he isn’t someone I want to have the ball with 10-15 seconds left in the game.

        • alphakira

          I agree, but good teams don’t win in the 4th, they win in all 4 quarters. Unfortunately Reddick or someone similar is the best the Grizz will be able to do considering their lack of wanting to spend any money.

          • DieHardMsFan

            I agree that he will help the Grizzlies more so than just about any other team due to their desperate need for some sort of spacing. That said in the playoffs a “good” team will be matched up against another “good” team. So its all about match ups generally and Reddick just doesn’t bring much in terms of “matchup problem” like Gay can (on some nights). Ah well whats done is done.

  6. Z....

    I’m not getting this from Toronto’s perspective

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