The Houston Rockets have acquired Memphis Grizzlies center Steven Adams in a trade for guard Victor Oladipo and three second-round picks, the teams announced Thursday. Part of the trade, the Grizzlies are getting a 2024 second-round pick via Oklahoma City, a conditional ’24 second-rounder, which will be the most favorable pick between the Brooklyn Nets’ and Golden State’s own, and a more favorable 2025 second-round pick of Houston’s, according to sources.

The deal unloads $12.4 million in guaranteed salary off the Grizzlies’ payroll for 2024-25, dropping them about $17 million below the punitive $190 million level of the salary cap referred to as the second apron. Oladipo, who’s on an expiring contract, has no timeline for his return to play.

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