The Memphis Grizzlies have agreed to trade center Marc Gasol to the Toronto Raptors in exchange for Jonas Valanciunas, Delon Wright, CJ Miles and a 2024 second-round draft pick, league sources told ESPN’s Adrian Wojnarowski on Thursday.

The Grizzlies, however, are keeping Mike Conley, league sources told ESPN. Memphis discussed deals with multiple teams, but ultimately decided to hold onto their franchise point guard.

The 34-year-old Gasol is averaging 15.7 points, 8.6 rebounds and a career-high 4.7 assists (which ranks second among NBA centers, trailing only Nikola Jokic’s 7.7) this season. He is the Grizzlies’ franchise leader in points, rebounds, blocks and field goals made.

It is a power move for Toronto, as it looks to improve its roster as it vies with Philadelphia and Milwaukee, among others, in the Eastern Conference. The 76ers and Bucks have also made major moves as the trade deadline nears, with Philly landing Tobias Harris and Milwaukee getting Nikola Mirotic.

Gasol has been with the Grizzlies for 11 seasons, which was tied with Russell Westbrook for fourth among active players with a franchise. Conley is third at 12 seasons.

A three-time All-Star and the 2013 NBA defensive player of the year, Gasol has a 15 percent trade bonus that is valued at $1.28 million. The amount of his bonus will be applied (if not waived) to his $24.1 million salary.

He also has a $25.6 million player option for next season.

The 7-foot Valanciunas is averaging 12.8 points and 7.2 rebounds this season. He had surgery after suffering a dislocated left thumb on Dec. 12 and has not played since. Prior to the trade, the Raptors had expected the center to return against Atlanta on Thursday night, with the team tweeting out a picture of Valanciunas with a quote from him saying, “I’m back.”

The 26-year-old Wright, who was selected by Toronto in the first round of the 2015 NBA draft, is averaging 6.9 points, 2.2 assists and 2.6 rebounds in 18.3 minutes of action per game this season.

Miles, 31, is averaging 5.5 points and 1.7 rebounds this season.

The three players acquired by Memphis — Valanciunas, Wright and Miles — can become free agents next season. Miles ($8.7 million) and Valanciunas ($17.6 million) have player options, while Wright will become a restricted free agent and is eligible to receive a $3.6 million qualifying offer in June.

Memphis is currently $668,000 below the luxury tax threshold.

ESPN’s Bobby Marks and ESPN Stats & Information contributed to this report.


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