In one of the most seismic offseason trades to date, the Memphis Grizzlies have agreed to send star guard Desmond Bane to the Orlando Magic in exchange for Kentavious Caldwell-Pope, Cole Anthony, four unprotected first-round picks, and a lightly protected first-round pick swap, league sources confirmed Sunday.

The trade, first reported by ESPN, signals a bold win-now move by the ascending Magic and a strategic retooling by Memphis as it repositions its roster around Ja Morant and Jaren Jackson Jr.

Deal Breakdown

• To Memphis:
  • Kentavious Caldwell-Pope (2x NBA champion, elite 3&D presence)
  • Cole Anthony (young scoring guard)
  • 2025 first-round pick (No. 16 overall)
  • 2026 first-round pick (via Phoenix)
  • 2028 and 2030 unprotected first-round picks
  • 2029 first-round pick swap (light protections)
• To Orlando:
  • Desmond Bane (25, coming off a career-best season, elite shooter/scorer)

What This Means for Orlando

After making a surprising leap in the 2024 playoffs, the Magic are going all-in. Adding Bane gives Orlando a legitimate second offensive engine alongside Paolo Banchero and Franz Wagner. His deadeye perimeter shooting, high basketball IQ, and postseason experience offer the kind of firepower Orlando lacked late in games last season.

Orlando now boasts one of the most versatile young cores in the East—with Bane’s 3-point shooting (40% career) complementing their physical, defensive-minded roster.

What This Means for Memphis

For the Grizzlies, the move signals a recalibration after an injury-riddled season. In Caldwell-Pope, they add a battle-tested wing who brings championship pedigree and defensive toughness. Cole Anthony adds depth behind Morant and insurance against injury.

But the true headliner for Memphis is the treasure chest of draft capital—four unprotected firsts and a swap. This flexibility allows them to remain competitive while giving GM Zach Kleiman options for future trades or draft reinforcements.

Big Picture

This blockbuster reflects two franchises on different timelines. Orlando is pushing chips to the center, believing its young core is ready to contend now. Memphis, meanwhile, remains committed to building around its foundational stars while securing long-term flexibility.

Expect both front offices to remain active as free agency and draft week approach.

Grade the Trade:

• Magic: A- (High price, but a perfect fit for their roster needs)
• Grizzlies: A (Maximized Bane’s value and restocked the war chest)