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Memphis trade sheds $6M in payroll

Updated: January 23, 2013, 1:53 PM ET
By Brian Windhorst | ESPN.com

The Memphis Grizzlies have completed a multiplayer trade with the Cleveland Cavaliers, slicing more than $6 million off their payroll to get under the luxury tax threshold.

Memphis sent big man Marreese Speights, guards Wayne Ellington and Josh Selby, and a future first-round draft pick to the Cavs for forward Jon Leuer.

The pick is the most valuable part of the deal for the Cavs. In 2015 or 2016, if the Grizzlies' first-rounder falls between picks 6-14, the pick goes ...

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