Jazz, Grizzlies Have Explored Trade Involving Conley, Rubio

12:06pm: Sources tell Andy Larsen of The Salt Lake Tribune (Twitter link) that the Jazz aren’t high on the 2019 draft, so they’re willing to move this year’s first-rounder. However, if the Grizzlies believe they could do better than Utah’s mid-to-late first-rounder for Conley, they could ask for a second pick, Larsen notes.

9:53am: The Jazz and Grizzlies have engaged in exploratory discussions on a potential trade that would be headlined by Mike Conley and Ricky Rubio, reports Marc Stein of The New York Times (Twitter links). As Stein observes, more pieces would need to be involved if talks get more serious and the two teams work toward a deal.

These aren’t the first rumblings we’ve heard linking Conley to the Jazz. Last week, a report indicated that Utah had interest in the Grizzlies point guard, and ESPN’s Zach Lowe wrote this morning that the two sides had engaged in talks. Sources told Lowe that those discussions could pick up steam as the weekend approaches, while Tony Jones of The Athletic suggests (via Twitter) that the two sides are already “fairly far down the road” on a potential trade.

While the Jazz’s interest in Conley is “undeniable,” per Stein (Twitter link), the bump up from Rubio’s salary ($14.975MM) to Conley’s ($30.521MM) would be substantial. At least one more sizable contract – perhaps Derrick Favors‘ pseudo-expiring $16.9MM deal – would need to be included for matching purposes, and Memphis is also believed to be seeking “prime” draft compensation in any swap involving Conley or Marc Gasol, according to Stein.

Rubio is on an expiring contract, while Conley remains under contract through the 2020/21 season, with increasing cap hits over the next two years. If the Jazz were to make a move for the veteran, they’d be acquiring a very good point guard who has played like a borderline All-Star this season, but they’d be significantly compromising their cap flexibility over the next couple years. Still, perhaps that’d be a good use of the team’s future cap space, since Utah isn’t considered a top destination for free agents.

The Jazz have reportedly been seeking a third impact player to slot in alongside Rudy Gobert and Donovan Mitchell, so it will be interesting to see just how serious they are about making Conley that player as next Thursday’s trade deadline approaches.

For his part, Conley has averaged 20.2 PPG, 6.3 APG, and 3.4 RPG with a .433/.359/.844 shooting line in 51 games this season.

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