The Memphis Grizzlies have agreed to trade Jonas Valanciunas to the New Orleans Pelicans for Steven Adams and Eric Bledsoe.
Memphis will acquire picks No. 10 and No. 40 in this week's draft along with a protected 2022 first round pick via the Los Angeles Lakers. The pick from the Lakers will be protected 1-10. The Pelicans will get picks No. 17 and No. 51 back from the Grizzlies.
The move clears cap space for the Pelicans in free agency and have been linked with Kyle Lowry.
Chris Haynes of Yahoo! Sports reports that Bledsoe is not expected to remain with the Grizzlies.