1:54pm: The trade is now official, the Grizzlies announced in a press release (Twitter link).
12:25pm: The Grizzlies have agreed to a trade that will send Ziaire Williams and a 2030 second-round pick (via Dallas) to the Nets for Mamadi Diakite and the draft rights to Nemanja Dangubic, sources tell ESPN’s Adrian Wojnarowski.
It’s essentially a salary dump for Memphis, which had been looking to move Williams due to the team’s financial situation. The 22-year-old will earn $6.13MM in 2024/25, which is the final season of his rookie scale contract. The Grizzlies will generate a trade exception worth that amount.
After the transaction is complete, the Grizzlies project to be about $10MM below the luxury tax line and $14MM beneath the first apron, tweets ESPN’s Bobby Marks. The Nets will acquire Williams using one of their outstanding trade exceptions, Marks notes. It’ll likely be the one worth $9.5MM from sending Royce O’Neale to Phoenix in February.
According to Damichael Cole of The Memphis Commercial Appeal (Twitter link), the Grizzlies are likely to use their new cap flexibility to re-sign veteran sharpshooter Luke Kennard, who remains an unrestricted free agent. Wojnarowski confirms Memphis is working to bring back Kennard.
As for the rebuilding Nets, they’ll be taking a low-risk flyer on a former top prospect in Williams, who was selected 10th overall in the 2021 draft. And as a sweetener for taking on his salary, they’ll also add a future second-round pick.
Williams has averaged 7.5 points and 2.6 rebounds per game on .426/.301/.803 shooting over the past three seasons with Memphis (150 games; 20.4 minutes per contest). He’s eligible for a rookie scale extension until the day before the 2024/25 season begins; if no deal is reached, he’ll be eligible for restricted free agency in 2025.
Diakite, a forward/center who was sent from New York to Brooklyn in the Mikal Bridges trade and is now being re-routed to Memphis, could be waived. His salary for next season is only partially guaranteed for $1.39MM, and Cole recently reported that the Grizzlies want to keep an open roster spot entering the regular season; re-adding Kennard and retaining Diakite would push their standard roster count up to 15 players.
Diakite, 27, has bounced around the NBA over the course of his four seasons, suiting up for the Bucks, Thunder, Cavs, Spurs and Knicks. Overall, the Guinea native has appeared in 55 regular season games, with career averages of 3.1 points and 2.3 rebounds in 9.6 minutes.
“It was eye-opening to see the Knicks offer these kinds of assets for Mikal. If you look at our ability to reload our assets, particularly in the draft year of 2025, we have one pick that’s our own that could be very. very good. … We’ve got three more first-round picks that probably will be in the 20s but it’s a very deep draft. Plus, we have our own second-round pick. That’s a class we can get very excited about.”
Lewis adds that the Nets began to strongly consider a Bridges trade after he openly criticized the team’s direction following a lopsided loss to Boston on February 14. Up to that point, the focus had been on finding an All-Star to pair with him.
There’s more on the Nets: