The Memphis Grizzlies have reached a deal in principle to trade one of their best players, Rudy Gay, to the Toronto Raptors. In exchange for sending Gay to Canada, the Grizzlies will receive point guard Jose Calderon and send his $10.5 million expiring contract to the Detroit Pistons for a package that includes forwards Tayshaun Prince and Austin Daye.
Toronto also sent forward Ed Davis and a second-round pick to the Grizzlies, and Memphis shipped center Hamed Haddadi to the Raptors. Gay, 26, is averaging 17.2 points and 5.9 rebounds. The Grizzlies new owner has been eager to unload expensive contracts, and in Prince, Memphis will get a strong small forward who will save them $37 million that was due to be paid to Gay over the next two seasons.
Detroit clears the final two years, $15 million left on Prince’s deal, and moves nearly $25 million under the salary cap beginning with free agency in July.