A complete recap of trades that were completed before Thursday's trade deadline:
1:33pm: The second-round pick headed to Phoenix will either be the Raptors' or Kings' 2014 pick, whichever is lower, reports Paul Coro of the Arizona Republic (via Twitter).
1:03pm: The Raptors and Suns have agreed to a deal that will send Sebastian Telfair to Toronto and Hamed Haddadi to Phoenix, reports ESPN.com's Chris Broussard (via Twitter). According to Ken Berger of CBSSports.com (via Twitter), the Suns will also acquire a second-round pick in the trade, as ESPN.com's Marc Stein reported earlier today.
Since trading Jose Calderon to the Pistons in the deal that landed them Rudy Gay, the Raptors had been exploring avenues for adding another point guard, having reportedly targeted Eric Maynor and Luke Ridnour along with Telfair. Adrian Wojnarowski of Yahoo! Sports reported this morning that the Raptors had emerged as the frontrunners for Telfair, who had a cheaper salary and trade cost than Toronto's other options.
In addition to landing a protected second-rounder from the Raptors, the Suns will also cut costs a little, as Haddadi is earning just $1.3MM compared to Telfair's $1.57MM. The move also lets the team create playing time for rookie point guard Kendall Marshall, which was Phoenix's initial motivation for exploring a Telfair trade.
10:44am: If the Suns and Raptors reach an agreement, it's likely to come in the final hour before the deadline, tweets ESPN.com's Marc Stein, who says that Telfair would likely be swapped for Hamed Haddadi and a second-round pick.
8:34am: NBA fans may not breathlessly be discussing the Sebastian Telfair sweepstakes, but according to Adrian Wojnarowski of Yahoo! Sports (via Twitter), the Raptors have emerged as the frontrunners to land Telfair.
We heard earlier this week that the Suns were looking to move Telfair in order to create playing time for rookie point guard Kendall Marshall. The club's efforts to trade Telfair likely intensified after Phoenix agreed to acquire Marcus Morris -- with 15 players already on the roster, the team will need to trade or release a player to clear room for the newest Sun.
The Suns' need to move or let go of a player should create leverage for the Raptors, who have been eyeing a number of backup point guards on the trade market. However, because Telfair makes more than the minimum salary, the Raps would have to send out a little salary of their own to make a deal work financially. Doug Smith of the Toronto Star suggested today that trading Alan Anderson in a deal for a backup point guard is a possibility for Toronto.
Reaction has been pouring in since the Grizzlies, Raptors and Pistons struck a deal that's headlined by Rudy Gay going to Toronto. Couper Moorhead of Heat.com thinks the trade is a win for the Grizzlies, who pulled off the rare trifecta of shedding salary while improving short-term and long-term (Twitter link). Ken Berger of CBSSports.com sees it as a step back for Memphis, and another reminder of the harsh reality of the new CBA for small and mid-size markets. Here's more of what we're hearing:
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 Pistons.com 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 CBSSports.com (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 CBSSports.com (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 CBSSports.com 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.
4:42pm: The Grizzlies spent the day calling around doing background work on Tayshaun Prince, according to Wojnarowski (via Twitter), so presumably Prince would be headed to Memphis if Calderon is sent to Detroit. Sam Amick of USA Today reports that the Celtics are another team in the mix to acquire Calderon.
4:35pm: If and when the deal is finalized, the Grizzlies are also expected to receive a second-round pick from the Raptors, according to Stein.
4:30pm: According to Stein (via Twitter), the Mavericks are another potential landing spot for Calderon, though Dallas is reluctant to part with Vince Carter, who the Grizzlies would want to replace Gay. Tim MacMahon of ESPNDallas.com made the case this morning for why the Mavs make sense as the third team in a Raptors/Grizzlies deal.
4:23pm: The Grizzlies and Raptors have a deal in place that would send Gay and Hamed Haddadi to Toronto in exchange for Calderon and Davis, according to ESPN.com's Marc Stein (via Twitter). An agreement hasn't been finalized yet because it figures to eventually include a third team, possibly the Pistons, that would acquire Calderon, says Stein (via Twitter).
4:03pm: Several sources tell Wojnarowski that the Grizzlies have a plan to move Calderon to a third team in the discussed deal with the Raptors (Twitter link).
3:48pm: As Tillery suggested, the Grizzlies would prefer to send Calderon to a third team in the trade scenario they're discussing with the Raptors. Ken Berger of CBSSports.com tweets that there are "several potential suitors" making a push for the point guard.
3:34pm: The Grizzlies appear to be moving closer to a deal that would include Rudy Gay, according to Ronald Tillery of the Memphis Commercial Appeal. Tillery reports that Memphis is weighing whether or not to pull the trigger on one of three different scenarios, including one that would send Gay to the Raptors. The Grizzlies have two other potential deals on the table if they and the Raptors can't reach an agreement by this weekend.
Adrian Wojnarowski is also reporting that the Grizzlies and Raptors are making progress on a potential trade. According to Wojnarowski, the two sides have discussed scenarios involving a third team in addition to straight-up scenarios. The Raptors would likely part with Jose Calderon and Ed Davis in any deal (Twitter links).
According to Tillery, in their talks with the Raptors, the Grizzlies are seeking a small forward, a draft pick, and possibly Davis. A third team may have to be involved to acquire Calderon and provide the small forward the Grizzlies are hoping to land. Darrell Arthur would not be involved in that hypothetical trade, says Tillery.
Wojnarowski adds in another tweet that the Grizzlies and Raptors are discussing the potential deal with their respective ownership groups, and could reach an agreement as soon as tonight.
The Grizzlies have officially announced the re-signing of center Hamed Haddadi, tweets Chris Herrington of The Memphis Flyer (hat tip to Zach Lowe of SI.com). Terms are not known, but the deal is likely no greater than the one-year, $1.3MM contract Haddadi got from the team last year.
The 7'2" Haddadi, the NBA's first Iranian-born player, averaged 2.o points and 2.0 rebounds in 5.9 minutes of play, chipping in 0.7 blocks. Those figures closely mirror the four-year veteran's career numbers since Memphis signed him as an undrafted free agent in 2008.
Ronald Tillery of the Memphis Commercial Appeal reported Thursday that Haddadi and the team were expected to come to terms soon, predicting the deal would be for close to the veteran's minimum of $915,852 for a fifth-year player. The Grizzlies hold Haddadi's Bird rights, but the team is over the tax threshold, so it's unlikely the 27-year-old gets a signficant raise.
The Grizzlies are expected to re-sign Hamed Haddadi within the "next couple of days," according to Ronald Tillery of the Memphis Commercial Appeal (Twitter link). Tillery reported after the Grizzlies finalized their trade for Wayne Ellington that the team would shift its focus to bringing back Haddadi for a salary close to the minimum.
Haddadi, a 7'2" center, has spent his entire NBA career with the Grizzlies, though he's never been a major part of the team's rotation. In four seasons, Haddadi has appeared in just 121 contests, averaging 2.1 PPG, 2.2 RPG, and 0.5 BPG in 6.1 MPG.
Because the Grizzlies hold Haddadi's Bird Rights, the club doesn't necessarily have to sign him to a minimum-salary deal, though he's unlikely to get much more than that. Last December, the 27-year-old agreed to a one-year, $1.3MM contract to remain in Memphis.
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.