Grizzlies trade Jonas Valanciunas to Pelicans for Eric Bledsoe, Steven Adams

According to ESPN’s Adrian Wojnarowski and Andrew Lopez, the New Orleans Pelicans are shipping guard Eric Bledsoe, center Steven Adams, the Nos. 10 and 40 picks of the 2021 NBA Draft, and two future first-round picks to the Memphis Grizzlies for center Jonas Valanciunas and the Nos. 17 and 51 picks of this week’s upcoming draft. So, the Pelicans are giving up the Lakers’ 2022 first-round pick. Valanciunas, the 29-year-old veteran center, averaged 17.1 points, 12.5 rebounds, and 1.8 assists per game in 62 games played throughout the 2020-21 season. He also shot 59 percent from the field. The seven-foot Lithuanian also ranks fourth overall in true shooting percentage (.616) among active players. On July 11, 2019, Valanciunas signed a three-year, $45 million contract with the Grizzlies. He is set to earn $4 million next season.

Additionally, in 71 games played last season, Bledsoe averaged 12.2 points, 3.4 rebounds, and 3.8 assists. The six-foot-one guard also shot 42.1 percent from the field in the 2020-21 season. On November 23, 2020, as part of a four-team trade, Bledsoe and Adams were traded to the Pelicans from the Oklahoma City Thunder, along with two future first-round picks and the right to swap two additional first-round picks. Last season, in 71 games played, Bledsoe averaged 12.2 points, 3.4 rebounds, and 3.8 assists. His field goal percentage was 42.1 percent as well. The 11-year veteran is set to earn $18,125,000 in the 2021-22 season. Before he was traded to New Orleans, on March 4, 2019, the guard signed a four-year, $70 million extension. He earned his first All-Defensive second-team selection in the 2019-20 season.

The Grizzlies and Pelicans have agreed on a trade to send Jonas Valanciunas, 2021 Nos. 17 and 51 picks to New Orleans for Steven Adams, Eric Bledsoe, 2021 picks Nos. 10 and 40 and a protected 2022 first-round pick via the Lakers, per @wojespn pic.twitter.com/q7ZoqzpJjt

— Bleacher Report (@BleacherReport) July 26, 2021

Moreover, in 58 games played last season, Adams averaged 7.6 points, 8.9 rebounds, and 1.9 assists per game. The six-foot-eleven center ranks fifth among active players for effective field goal shooting percentage (.591). The eight-year veteran also ranks third in offensive rebounding percentage, with an active statistic of 14 percent. On November 23, 2020, the same day Adams was traded to the Pelicans, he signed a two-year, $35 million extension. For next season, he is projected to earn $17,073,171. To add to this trade news, the Grizzlies and Pelicans are swapping second-round picks in this year’s draft, too. Referencing NBA.com’s “Consensus Mock Draft” article, with the No. 10 pick of the draft, the Pelicans were originally expected to draft either Josh Giddey or Davion Mitchell at this number. However, plans have now changed.

From ESPN’s Bobby Marks, the trade will not be finalized until August 6th, and this is because of the annual salaries of these said players. Free agency will begin on August 2, 6:00 p.m. (EST). Furthermore, per Spotrac’s 2021-22 NBA salary cap table, next season’s luxury tax threshold is $136,606,000. The team’s current available luxury tax space is $22,555,195. The Pelicans and Grizzlies have a salary cap maximum of $112,414,000. Brandon Ingram, Bledsoe, and Adams had a combined cap percentage of 39.2 percent. Considering that Bledsoe and Adams are traded away, this will clear up $35,198,171 of dead cap space.

Yesterday, CBS Sports reported the news pertaining to Lonzo Ball’s desire to remain in New Orleans. With extra cap space, the team is expected to re-sign the 23-year-old guard. Likewise, for the Grizzlies, the teams has a luxury tax space of $37,019,952. Their current cap space is $8,321,229. As stated before, the transactions have not yet been finalized. The Grizzlies’ outgoing cap is now $14 million, but from the contracts of Adams and Bledsoe, they are bringing in $35,198,171.