Grizzlies, Cavs agree to multi-player trade

The Memphis Grizzlies traded Marreese Speights, Wayne Ellington, Josh Selby and a future first-round draft pick Tuesday to the Cleveland Cavaliers for Jon Leuer.

The trade is the first big move by the Grizzlies’ new ownership and clears about $6 million in salary in getting Memphis under the luxury tax threshold this season. The Grizzlies rank fourth in the West and are 6-4 over their past 10 games after the NBA’s best start this season.

The deal gives the lottery-bound Cavs another firstround pick to improve a team entering Tuesday night’s home game against Boston with a 10-32 record — secondworst in the Eastern Conference. Speights also will help replace center Anderson Varejao who will miss the remainder of the season after developing a blood clot in his right lung.

The ownership group led by Robert Pera took over the Grizzlies on Nov. 5, and they had been scheduled to pay about $4 million in luxury tax this season with a payroll more than $74 million. This should help Memphis keep its starters Rudy Gay, Zach Randolph, Marc Gasol, Mike Conley and Tony Allen together the rest of this season for another postseason run.

BRIEFLY

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