The Memphis Grizzlies have traded injured starting center Steven Adams to the Houston Rockets for Victor Oladipo and three second-round picks, according to ESPN’s Adrian Wojnarowski. 

The deal, according to Wojnarowski, allows the Grizzlies to create more salary flexibility and draft assets centered around a 2024 offseason where they'll get a chance at a high lottery pick and an opportunity to fortify a contender around Ja Morant, Jaren Jackson Jr. and Desmond Bane.

Adams, 30, is making $12.6 million this year and is out for the entirety of the 2023-24 season after surgery to address instability in his right knee. He's expected to make a full recovery ahead of the 2024-25 season, and he will either back up or play alongside budding center Alperen Sengun.

For the Grizzlies, they will be acquiring two 2024 second-round picks and a 2025 second-round pick as well as positioning themselves to land a high pick in this year’s draft, which has top big-man prospect Alex Sarr.