7:22pm: The trade is official, according to a press release from the Grizzlies, who classified the draft asset they’re getting from the Suns as a “future first-round pick swap.”
Memphis will be able to swap its own 2026 first-round pick for the least favorable of the Suns’, Wizards’, and Magic’s first-rounders that year, tweets Chris Herrington of The Daily Memphian.
4:58pm: The Suns hung onto Boston’s 2028 second-round pick, tweets Gambadoro, which means the three future second-rounders they’re sending Brooklyn are as follows:
- Either the Pistons’, Bucks,’ or Magic’s 2026 second-round pick (whichever is least favorable).
- The Grizzlies’ 2028 second-round pick.
- The Grizzlies’ 2029 second-round pick.
Watanabe and Metu will head to the Grizzlies, while Brooklyn will acquire Bates-Diop and Goodwin, per Duane Rankin of The Arizona Republic (Twitter link).
O’Neale is in the final year of a four-year, $36MM contract and could enter unrestricted free agency this summer with full Bird rights. He’s making $9.5MM this season.
He’ll be extension eligible with the Suns for a maximum of two-years and $20.5MM, Yossi Gozlan of Hoops Hype tweets.
Roddy is making $2.72MM this season and already had $4.83MM option for next season picked up by Memphis. Phoenix can use the $4,975,371 traded player exception it generated in the Dario Saric trade with Oklahoma City last season to absorb Roddy’s salary. That exception expires on Friday.
The Suns were considered the top suitor for the Hornets’ Miles Bridges. However, Bridges reportedly told Charlotte’s front office he wouldn’t approve any trade. Phoenix pivoted to O’Neale, who will immediately jump into its rotation.
O’Neale gives Phoenix a playoff-tested, defensive-minded veteran. He has been coming off the bench most of this season but could slot into Phoenix’s star-laden lineup if the Suns want to use Grayson Allen in a sixth-man role.
O’Neale is averaging 7.4 points, 4.5 rebounds and 2.8 assists in 24.5 minutes per game this season. He’s a career 38.1% 3-point shooter and should get plenty of open looks playing with Phoenix’s stars.
Phoenix will see its luxury tax bill rise by $13.5MM, Gozlan tweets. Overall, the Suns will have a payroll and luxury tax penalty adding up to more than $254.5MM this season, Gozlan notes in another tweet.
By swapping out four players for a pair, Phoenix will also have to add another player to reach the league minimum or 14. That will also increase their tax bill.
Watanabe and Bates-Diop are signed through next year. Metu has an expiring contract and Goodwin’s contract includes a team option for next season.