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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. USA Today Sports

Cleveland Cavaliers, Memphis Grizzlies, Draft, Trade, Rudy Gay, Wayne Ellington, Marreese Speights, Jon Leuer, Josh Selby, Robert Pera 

Brian Windhorst: Just filed to ESPN: Cavs & Grizzlies are in talks on a deal that would send Marreese Speights & Josh Selby for Jon Leuer. Picks involved Twitter @WindhorstESPN

Cleveland Cavaliers, Memphis Grizzlies, Trade, Marreese Speights, Jon Leuer, Josh Selby 

Marc J. Spears: Grizzlies trade Speights, Selby and pick to Cavs for Lauer, source said. Cavaliers also get a second round pick in trade. Twitter @SpearsNBAYahoo

Cleveland Cavaliers, Memphis Grizzlies, Trade, Marreese Speights, Jon Leuer, Josh Selby 

Marreese Speights: Great win tonight!!! When you have two Allstar bigs you have to find away to impact the game in a different way.it's not about scoring.GNG Twitter @Mospeights16

Memphis Grizzlies, Marreese Speights 

Speights is no longer battling the lazy label that's dogged him for most of his four-year NBA career. "He's shown everybody what he can do," said Gay, one of Speights' close friends and toughest critics. "We were all kind of skeptical. We were used to playing with Z-Bo (Zach Randolph) and what he does. Mo brings a different aspect to our team that really helped us out last year. Now, he just has to come back and take advantage of this opportunity again." Memphis Commercial Appeal

Memphis Grizzlies, Marreese Speights 

Marreese Speights: i get to play vs @Andre Iguodala 4 times this year yessir!!! #grizznation!!!!! Twitter

Denver Nuggets, Memphis Grizzlies, Andre Iguodala, Marreese Speights 

The Memphis Grizzlies re-signed forwards Marreese Speights and Darrell Arthur to multi-year contracts, Grizzlies General Manger and Vice President of Basketball Operations Chris Wallace announced today. Per team policy, terms of the deals were not disclosed. NBA.com

Memphis Grizzlies, Free Agency, Chris Wallace, Marreese Speights, Darrell Arthur 

Ronald Tillery: Mo Speights' new deal is 2 yrs nearly $9 million w/ 2nd yr PLAYER option, CA has learned. Twitter

Memphis Grizzlies, Marreese Speights 

Chris Herrington: Grizzlies have reached an agreement on a 2-year deal with Mo Speights, per a source. Roughly $7 million total. 2nd year is a team option. Twitter

Memphis Grizzlies, Free Agency, Marreese Speights 

David Baumann: Griz' rest. FA @mospeights16 on free agency: "It's been crazy. There are a lot of free agents out there who want to be on good teams..." Twitter

Free Agency, Marreese Speights 

David Baumann: More Griz' rest. FA on free agency: "...As of now, I'm a Grizly, so I'll just take it day by day." Twitter

Memphis Grizzlies, Free Agency, Marreese Speights 

Ronald Tillery: Griz issue qualifying offers to Arthur, Speights, making them RFA. Won't issue QO to Mayo or Hudson. CA story coming... Twitter

Memphis Grizzlies, Free Agency, OJ Mayo, Marreese Speights, Darrell Arthur 

Several executives believe that Memphis could to move Gay in a cost-cutting move since the team wants to re-sign restricted free agents O.J. Mayo, Marreese Speights and Darrell Arthur after already giving long-term deals to Marc Gasol, Zach Randolph and Mike Conley. HoopsWorld

Memphis Grizzlies, Trade, Rudy Gay, Mike Conley, Marreese Speights, Darrell Arthur 

Speights' agent, Andy Miller, attended the Grizzlies' road game Tuesday night against the Portland Trail Blazers. Miller said he had cursory talks with Wallace and Speights will not receive an extension. They mutually agreed to revisit contract talks regarding Speights during the offseason. The Griz would like to retain Mayo and Arthur at a bargain but both players seem more inclined to test free agency. Memphis Commercial Appeal

Memphis Grizzlies, Marreese Speights 

Asked if he had any regrets on trading Speights, who has been playing pretty well for the Memphis Grizzlies lately, Thorn said: “Speights is a talented player who can shoot and rebound but the fact remains he wasn’t going to play here. So with that being the case and at the end of the year him becoming a free agent and therefore we would have gotten nothing for him.” Should the Sixers pick someone up, it will be someone they feel is going to help the team on the court. "We’re not going to pick up someone just to come in and be a practice body,” said Thorn. “With the crazy schedule, there’s no practice time anyway.” Philadelphia Inquirer

Memphis Grizzlies, Philadelphia 76ers, Trade, Marreese Speights 

Sean Deveney: Always wondered why the Sixers didn't play Speights more. Source said there were, "personality conflicts" with Doug Collins. So that's that. Twitter

Memphis Grizzlies, Philadelphia 76ers, Trade, Doug Collins, Marreese Speights 

The 76ers traded center Marreese Speights to the Memphis Grizzlies Wednesday in exchange for a pair of second-round draft choices. The pick from the Grizzlies comes in the 2012 draft. The third team involved, the New Orleans Hornets, whom the Sixers play Wednesday night, will send a second-round pick in 2013. The Sixers will also get a $2.72 million trade exception - the equivalent to Speights' 2011-12 salary. "We wish Marreese all the best as he stars a new chapter in his career with Memphis," Sixers president of basketball operations Rod Thorn said. "This trade will give us additional assets moving forward, including a trade exception, which will help us as we look to continue to improve our team." Philadelphia Inquirer

Memphis Grizzlies, Philadelphia 76ers, Trade, Marreese Speights 

"I feel really good about it," Speights said after the team's morning shootaround at the New Orleans Arena, shortly after being told about it. "I've got a fresh start so I just got to get back on the ground and be prepared to play. I know [Memphis] is a lot like us. They have a good coach in coach [Lionel] Hollins. I know them a little bit. They have coach [Henry] Bibby, who used to coach here a little bit." Though a wonderful offensive talent, Speights battled conditioning and defensive problems throughout his career. His numbers dipped last season to an average of 5.4 points and 3.3 rebounds in just 11.5 minutes. Those numbers were down from those of his first two seasons. Philadelphia Inquirer

Memphis Grizzlies, Philadelphia 76ers, Trade, Marreese Speights 

The Memphis Grizzlies have agreed in principle to the terms of a three-team trade with New Orleans and Philadelphia that will bring 76ers center Marreese Speights to the Grizzlies, according to sources with knowledge of the trade. The deal, on course to be completed later Wednesday, would send Memphis swingman Xavier Henry to the Hornets and two second-round picks to Philadelphia. ESPN.com

Memphis Grizzlies, New Orleans Hornets, Philadelphia 76ers, Trade, Xavier Henry, Marreese Speights 

The Grizzlies have agreed to acquire 6-10 forward/center Marresse Speights from the Philadelphia 76ers in a three-team trade, an NBA source confirmed this morning. Memphis would send second-year guard Xavier Henry to New Orleans, which would give Philadelphia a pair of second-round draft picks. Memphis Commercial Appeal

Memphis Grizzlies, New Orleans Hornets, Philadelphia 76ers, Trade, Xavier Henry, Marreese Speights