NBA Rumors: Steven Adams Traded to Rockets; Grizzlies Get Oladipo, 3 2nd-Round Picks

The Memphis Grizzlies are trading center Steven Adams to the Houston Rockets, according to ESPN's Adrian Wojnarowski.

Memphis will receive Victor Oladipo and three second-round picks in return.

The Grizzlies sought "salary flexibility and draft assets" with the trade, according to Wojnarowski.

Adams averaged 8.6 points, 11.5 rebounds and 2.3 assists through 42 starts with the Grizzlies last season before undergoing season-ending knee surgery in October.

Oladipo averaged 10.7 points and 3.5 assists per game while playing off the bench for the Heat in 2022-23. He has not appeared in a game this season after having offseason knee surgery.

Adams, 30, has not played since suffering a PCL sprain in January 2023.

He underwent surgery after attempts to address "ongoing knee instability" through rehabilitation did not work, according to NBA.com.

The Grizzlies said at the time of the surgery that the center was "expected to make a full recovery" ahead of the 2024-25 season.

After this season, Adams has one year and $12.6 million remaining on the two-year extension he signed with the Grizzlies in October 2022. That contract will take up just under 9 percent of the league cap in 2024-25, according to Spotrac.

Oladipo, meanwhile, is on a $9.45 million player option that makes up the final year of his current deal. He is set to become an unrestricted free agent this offseason.

The Rockets sent over two 2024 draft picks and one 2025 selection as part of the deal, according to Wojnarowski.

The Grizzlies now have four draft picks (two first-round, two second-round) in 2024 while holding two (one first-round, one second-round) in 2025, per ESPN's Bobby Marks.

With stunningly bad injury luck this season, the Grizzlies are 18-29, 13th in the Western Conference and well out of the playoff picture.