They traded Marc Gasol to the Toronto Raptors; Shelvin Mack to Atlanta; and Garrett Temple and JaMychal Green to the Clippers.
In the deal, the Grizzlies brought back center Jonas Valanciunas, guard Delon Wright, guard/forward C.J. Miles and a 2024 second-round draft pick.
Will the trade market for Mike Conley broaden if the Grizzlies wait until closer to the draft in June?
Davis and the team agreed that his minutes would be reduced and that Davis would consult with the Pelicans on which ends of back-to-backs he will play in the rest of the season, sources told ESPN. Memphis was clubbed 117-95 on the road by Oklahoma City in their last game on Thursday night.
Jose Calderon picked up a lot of assists while playing for the Toronto Raptors - 4,288 regular season dimes and another 67 in the playoffs to be exact. On top of that, Greg Monroe and Malachi Richardson were moved in separate deals as a way to gain some roster and financial flexibility.
Gasol is one of eight players to average at least 10 points and six rebounds for each of the 11 seasons since the start of the 2008-09 year, according to Opta. He is the Grizzlies' franchise leader in points, rebounds, blocks and field goals made.
The Raptors are second in the Eastern Conference and they added a boost in Gasol to help them keep pace with conference frontrunner Milwaukee Bucks, who traded for Nikola Mirotic on Thursday.
Gasol has been with the Grizzlies for 11 seasons, which was tied with Russell Westbrook for the fourth-longest tenure with one franchise among active players.
Gasol (7-1, 255) has averaged 15.2 points, 7.7 rebounds, 3.4 assists and 1.48 blocks in 33.7 minutes while shooting 48.4 percent from the field, 34.4 percent from three-point range and 77.7 percent from the free throw line in 769 career regular season games (762 starts) in 11 National Basketball Association seasons, all with the Grizzlies. Conley is third at 12 seasons.
But the last time that Memphis traded a Gasol brother, it led to Pau Gasol's first championship in 2009, with the Los Angeles Lakers.
Gasol is slated to make US$24.1 million this season and has a player option for $25.6 million next season. Miles, 31, has been a disappointment, scoring just 5.5 points, 1.7 rebounds, and 0.6 assists per game.