Memphis is also sending the No. 17 and No. 51 picks in the 2021 draft to New Orleans for the No. 10 and No. 40 picks.
The Grizzlies are sending center Jonas Valančiūnas to the Pelicans for center Steven Adams and guard Eric Bledsoe in a trade, per ESPN's Adrian Wojnarowski.
Memphis is also sending the No. 17 and No. 51 picks in the 2021 draft to New Orleans for the No. 10 and No. 40 picks along with a protected first-round pick via the Lakers, per the report.
The move allows the Pelicans to create enough salary cap room to match anything current point guard Lonzo Ball might be offered or fill his role with another player.
Valančiūnas averaged a double-double last season at 17.1 points and 12.5 rebounds per game. Adams, known for his toughness and paint defense, averaged 7.6 points and 8.9 boards per game while shooting 61% from the floor.
Bledsoe, 31, is entering his 12th year in the NBA and averaged 12.2 points per contest in 2021 and started in 70 of his 71 appearances. However, he is not expected to stay with the team, per Yahoo Sports's Chris Haynes.
The Grizzlies finished 38–34 last year and were eliminated in the first round of the playoffs. The Pelicans finished 31–41 without a playoff birth.
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