August 29th: The league has officially approved the trade, according to Keith Pompey of The Philadelphia Inquirer.
August 22nd: The second-round pick going to Memphis will be heavily protected and may never change hands, a source tells Keith Pompey of the Philadelphia Inquirer.
1:29pm: A week after acquiring a 2012 first-round pick from the Celtics, the Grizzlies have sent their own 2012 first-rounder to Philadelphia. Adrian Wojnarowski of Yahoo! Sports reports (via Twitter) that the Grizzlies have traded Tony Wroten to the Sixers in exchange for a future second-round pick.
Wroten, 20, was selected 25th in last year's draft by the Grizzlies, but appeared in just 35 games for the team in his rookie season, playing limited minutes. In 11 contests for the D-League's Reno Bighorns, the University of Washington product averaged 17.0 PPG, but didn't shoot particularly well (.415/.326/.548).
Like Fab Melo, who the Grizzlies acquired from Boston, Wroten is viewed as a young player with upside. However, while Memphis was willing to roll the dice on Melo, it seems the team was ready to cut ties with Wroten. The move indicates that the Grizz have confidence in Nick Calathes as their backup point guard behind Mike Conley. Jerryd Bayless is also available to play at the point, though he's more of a combo guard, and Josh Akognon is under contract as well, but has a non-guaranteed deal. Wroten's departure could bode well for Akognon's chances of earning a regular-season roster spot.
The Sixers, meanwhile, had only been carrying 12 contracts (10 guaranteed), and need to add more players if they intend to surpass the league's required salary floor. Wroten's modest salary won't raise team payroll to the minimum threshold, but it's a start. Philadelphia had also been carrying just one point guard (Michael Carter-Williams), so taking a chance on Wroten makes sense for a team not expecting to compete for the playoffs.
Because they still have plenty of cap room, the 76ers able to absorb Wroten's contract without sending out any salary in return. The over-the-cap Grizzlies will create a traded player exception worth Wroten's salary ($1,160,040), the latest in a long list of TPEs for the club. Clearing that salary from their books should also give Memphis a little more breathing room below the luxury tax.