With one day remaining until the 2013 trade deadline, the Grizzlies are making a push to land J.J. Redick, according to Chris Vernon of ESPN Radio in Memphis (via Twitter). With the $7.49MM trade exception they acquired when they dealt Rudy Gay, the Grizzlies would be able to absorb Redick's contract without sending out any salary in return.
The Magic have reportedly been seeking young talent and picks for Redick, and the Grizzlies would be hard-pressed to provide either of the two. The team has already committed future first-round picks to the Timberwolves and Cavaliers, so a package of second-round picks, or a first-rounder far down the line, would be all that Memphis could offer. The Magic would also gain a trade exception and some cap relief from a hypothetical deal, but I'd imagine they'll receive better offers for Redick from other suitors.
The Grizzlies are expected to add a player to their roster today or tomorrow using one of their seven trade exceptions to facilitate a deal, as we heard yesterday. The club is currently carrying just 12 players, and will need to add a 13th man soon to adhere to the league's roster requirements. Having moved well below the tax line with their two trades last month, the Grizzlies wouldn't be in danger of going back into the tax this season even if they added a player like Redick, who is earning $6.19MM.