The pick exchanged by the Heat is a 2024 conditional second-round pick that already has partial guarantees to the Cleveland Cavaliers. The pick was part of the machinations at the 2016 NBA trading deadline for the Cavaliers to send Dwyane Wade back to the Heat.
The Grizzlies took a slight risk in waiting until now to deal Conley instead of acting at the trade deadline, but it ended up costing them nothing beyond the chance to clear more 2019-20 salary. They might have come out better for it. They always wanted two first-round picks, and they got them. The Detroit Pistons opted against paying that price, sources say, and even had the Pistons agreed, Memphis might have been stuck with Reggie Jackson. The Pacers would not surrender two first-round picks and Aaron Holiday, sources say.