- HOOPSWORLD | Basketball News & NBA Rumors - http://www.hoopsworld.com -
Grizzlies get below NBA luxury tax
Posted By HOOPSWORLD On January 22, 2013 @ 11:01 am In All,Wirenews | Comments Disabled
by Jeff Zillgitt, USA TODAY Sports
In a much- desired need to get under the NBA’s luxury tax, the Memphis Grizzlies traded forward-center Marreese Speights, guards Josh Selby and Wayne Ellington and a future draft pick to the Cleveland Cavaliers for guard Jon Leuer, a person familiar with the deal told USA TODAY Sports on Tuesday.
The person requested anonymity because the teams have not announced the deal. The trades do not involve key players for either team.
However, it is important to the Grizzlies because it saves them roughly $6.2 million in salary, getting them below the $70.3 million luxury tax threshold and helping them avoid tax payments after the season.
The Grizzlies, recently purchased by Robert Pera, who has restructured the front office, had been shopping forward Rudy Gay in an effort to trim salary. This might be a sign that Memphis is willing to keep Gay and see how the season plays out.
Grizzlies coach Lionel Hollins recently made a case publicly to keep Gay in an effort to make a deep playoff run. The Grizzlies, after a fast start, have gone 6-4 of late and stand fourth in the Western Conference at 26-14.
Article printed from HOOPSWORLD | Basketball News & NBA Rumors: http://www.hoopsworld.com
URL to article: http://www.hoopsworld.com/grizzlies-get-below-nba-luxury-tax-in-trade-with-cavs
Copyright © 2012 HOOPSWORLD | Basketball News & NBA Rumors
Part of the USA TODAY Sports Media Group.