New Orleans Pelicans reportedly trade Eric Bledsoe to Memphis Grizzlies in multi-player deal

(Photo by C. Morgan Engel/Getty Images)

The NBA season isn’t even a week old yet and news is already breaking.

On Monday afternoon, it was reported by Adrian Wojnarowski of ESPN that New Orleans Pelicans point guard Eric Bledsoe has been traded to the Memphis Grizzlies in a multi-player. According to Woj, Bledsoe and center Steven Adams, along with the No. 10 and No. 40 overall picks in the upcoming 2021 NBA Draft, will be shipped off from the Pelicans to the Grizzlies in exchange for Jonas Valanciunas and the No. 17 and 51 overall picks in the 2021 NBA Draft.

Bledsoe, a former Kentucky guard from 2009-10, spent last season in New Orleans after being traded from the Milwaukee Bucks. The deal frees up cap space for the Pelicans to make a run at high-profile free agents this offseason or re-sign restricted free agent Lonzo Ball. There is an expectation that the Pellies will attempt to sign point guard Kyle Lowry in free agency.

New Orleans creates salary cap space for August that allows them to either match an offer sheet on Lonzo Ball, or have the cap space to pursue a significant free agent point guard, including Kyle Lowry and others. Pels liked Valanciunas as floor spacer at center over Adams, too. https://t.co/3YRyBTEg1S

— Adrian Wojnarowski (@wojespn) July 26, 2021

There had been rumors swirling over the weekend that Bledsoe was on the cusp of being traded and that the Pelicans would even move back in this week’s NBA Draft to do so. Now at 31-years-old, Bledsoe was serviceable during his one season with New Orleans, but the 2020-21 season was arguably his worst from a performance standpoint since 2012-13. The former Wildcat averaged 12.2 points, 3.4 rebounds, and 3.8 assists in 71 games last season on shootings splits of 42.1/34.1/68.7.

The Bucks moved Bledsoe last season in order to bring Jrue Holiday on board after Bledsoe went through another disappointing postseason run in Milwaukee. That deal ultimately helped the Bucks secure its first NBA Championship since 1974.

Even still, Bledsoe can provide plenty of value on the floor. He’s just one season removed from making Second Team All-Defense and two years removed from a First-Team selection. Teaming up with Ja Morant and the Grizzlies, Bledsoe could find himself coming off the bench in 2021-22, but that might just be the best move for him at this stage in his career as his production wanes.

Memphis will owe Bledsoe $18.1 million next season, although he’s only guaranteed for $3.9 million in 2022-23.

[UPDATE: Chris Haynes of Yahoo Sports is reporting that Bledsoe is not expected to remain in Memphis.]

Eric Bledsoe, who New Orleans included in a trade package, is not expected to stay in Memphis, league sources tell @YahooSports.

— Chris Haynes (@ChrisBHaynes) July 26, 2021