A few quick notes on the Grizzlies trading Marreese Speights, Wayne Ellington, Josh Selby, and a future first-round pick to Cleveland for Jon Leuer in a deal that is almost completely about Memphis going from $4.3 million over the luxury tax, to around $2 million under it:
• I was as guilty as anyone this morning in burying the lede on Twitter, in part because it makes sense to focus on the fringe title contender instead of the sad lottery team. So here’s the lede: This is a pretty great deal for Cleveland, and the greatness is in the details of the future first-round pick Memphis is sending. The Cavaliers had about $10.35 million in cap space before this trade, and they stood as one of just three teams (Phoenix and Houston being the others) with enough cap space to take on significant Memphis salary. Cleveland, of course, has to pay a prorated portion of those salaries, and that kind of spending has a price: the draft pick.