UPDATE: Tuesday, Jan. 7 at 11:15 a.m. ET by Ethan Norof
MEM gets Lee and 2016 2nd rounder from BOS BOS gets Bayless from MEM and Gomes from OKC OKC gets conditional 2017 2nd rounder from MEM— Ronald Tillery (@CAGrizBeat) January 7, 2014
The Boston Celtics have also confirmed the transaction.
The Celtics announced that they have acquired point guard Jerryd Bayless from Memphis: http://t.co/xF6NcSQwpb— Boston Celtics (@celtics) January 7, 2014
--End of update--
Trade call on Boston's looming acquisition of Jerryd Bayless for Courtney Lee, I'm told, is being scheduled for Monday. Deal is happening— Marc Stein (@ESPNSteinLine) January 5, 2014
UPDATE: Monday, Jan. 6 at 8:40 p.m. ET by Grant Hughes
According to Stein, the Lee-for-Bayless swap might now involve a third team: the Oklahoma City Thunder:
Buzz in Reno here at D-League Showcase is that Courtney Lee-for-Jerryd Bayless trade expanding to include third team: Oklahoma City— Marc Stein (@ESPNSteinLine) January 7, 2014
Apparently, Ryan Gomes is now rumored to be on the move:
Word is that OKC's Ryan Gomes will be added to trade to and goes to Boston ... with Celtics then expected to waive Gomes— Marc Stein (@ESPNSteinLine) January 7, 2014
Stein suspects the Thunder might have another roster tweak in mind, which is why they'd get involved by including Gomes.
Thunder involvement in this manner would create some extra luxury-tax wiggle room for OKC ... presumably to set them up for another trade— Marc Stein (@ESPNSteinLine) January 7, 2014
---End of update---
To absorb Lee's contract, the Grizzlies would need to use the remainder of the trade exception (worth roughly $7.5 million) they created in Jan. 2013 when they sent Rudy Gay to the Toronto Raptors.
If not, Memphis could always throw in a smaller contract to make the move work from a financial standpoint, which A. Sherrod Blakely from Comcast SportsNet points out.
The Lee-for-Bayless deal has to include add'l salary from Memphis side. Don't be surprised if Jon Leuer and his $900K salary is included.— A. Sherrod Blakely (@SherrodbCSN) January 5, 2014
In 30 games for Boston this season, Lee is averaging 7.4 points and 1.6 rebounds per game while shooting 44.2 percent from three-point range, which ranks 10th-best in the NBA.
On the other side of the spectrum, Bayless is putting up 8.0 points and 2.0 assists per game in 30 games for Memphis.
This isn't the first time Lee's name has been tossed around in potential trades. He was mentioned as a possible piece in a deal for Omer Asik earlier in the season.
Lee has two years remaining on his deal after this season worth roughly $11 million, while Bayless is an expiring contract at $3.1 million.
Memphis is tied for 21st in the league in three-point shooting at 34.3 percent. They've been relying heavily on Mike Conley (33.6 percent) and Mike Miller (43.4 percent) for their outside shooting, so Lee will certainly be an asset in that department.
He's expected to be pulled from Boston's lineup before the team faces the Oklahoma City Thunder on Sunday night, per Stein's report.
Bayless gives the Celtics yet another option at point guard as Rajon Rondo continues to rehab from his injuries.
Follow NBA Featured Columnist/Live Blogger Christopher Walder on Twitter at @WalderSports