The Cavaliers acquired forward/center Marreese Speights, guard Wayne Ellington, guard Josh Selby and a future first round draft pick from the Memphis Grizzlies in exchange for forward Jon Leuer.
In order to make room on the roster for the three players, the Cavaliers waived guard Jeremy Pargo.
"Marreese will strengthen our front court, while Wayne and Josh will add depth to our back court. At the same time, we are adding a valuable asset with another future first round pick, while also maintaining our future flexibility," Cavaliers General Manager Chris Grant said. "We wish Jon and Jeremy the best as they move on with their careers and thank them for their time with us here in Cleveland."
The Cavs will receive Memphis's first round draft pick, which cannot be used until at least the 2015 draft. The pick is protected in draft spots one through five and 15 through 30 in 2015 and 2016. The Cavaliers could only use it if it's between spots six and fourteen.
The pick is also protected one-five in 2017 and 2018. If the pick has not been conveyed by 2018, it becomes unprotected in 2019.
Speights, selected as the 16th overall pick of the 2008 NBA draft by the Philadelphia 76ers, has appeared in 40 games (two starts) for the Grizzlies this season. He's averaging 6.6 points and 4.7 rebounds in 14.4 minutes per game. Over five seasons and 305 games, Speights has career averages of 7.4 points and 4.3 rebounds in 16.2 minutes per game.
Ellington, selected as the 28th overall pick of the 2009 NBA draft by the Minnesota Timberwolves, has played in 40 games (four starts) for Memphis this year and is averaging 5.5 points and 1.3 rebounds in 16.9 minutes per game. He has played in 229 games over four seasons in the NBA and has career averages of 6.3 points and 1.8 rebounds in 18.4 minutes per game.
Selby, selected as the 49th overall pick of the 2011 NBA draft by the Memphis Grizzlies, has appeared in 10 games for Memphis this season, averaging 2.0 points in 5.9 minutes per game. He has played in 38 career games over his two-year NBA career, averaging 2.2 points in 7.8 minutes per game.
Leuer has appeared in nine games for the Cavs this season, averaging 2.4 points in 11.8 minutes per game. Pargo has played in 25 games (11 starts) this year and has averaged 7.8 points and 2.6 assists in 18.0 minutes per game.
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