After participating in the NBA's first two trades of 2013, the Grizzlies aren't necessarily done dealing, according to Ric Bucher of 95.7 The Game (via Sulia). But Bucher says that the team is now far enough below the luxury-tax threshold that it's open to adding players rather than shedding more salary.
According to Bucher, the Grizzlies discussed the possibility of acquiring Courtney Lee using a traded player exception. The largest of Memphis' seven TPEs is worth about $7.49MM, so Lee's $5MM salary could comfortably fit in that exception with no danger of the team approaching the tax again. However, Bucher adds that the Celtics aren't currently interested in simply shedding salary themselves, and would prefer to add a big man — that's something the Grizzlies likely can't afford to give up, since coach Lionel Hollins has already griped about the team's lack of frontcourt depth.
Given the Grizzlies' aversion to adding big long-term money to their books, the club could end up targeting a perimeter player on a shorter deal than Lee, who is under contract for another three years and $16.35MM after this season.