Korver is under contract for one more season, with $3.4 million of his $7.5 million salary fully guaranteed. Shams Charania of The Athletic and Stadium reported the 38-year-old is part of the Utah Jazz's trade package to land Memphis Grizzlies point guard Mike Conley.
The Grizzlies traded Marc Gasol to the Toronto Raptors in February, so Conley's departure definitively brings the end of an era to Memphis. With the team clearly in rebuilding mode, Korver has limited value as a member of the roster.
The 38-year-old could potentially be a veteran mentor to the Grizzlies' younger players, but Memphis will presumably cash in on him as a trade asset or waive him outright to save money.
In his last three seasons with the Jazz and Cleveland Cavaliers, Korver averaged 8.6 points and shot 39.7 percent from beyond the arc. His ability to stretch the floor will make him an attractive addition to any team with playoff aspirations in the upcoming season.
The 6'7" wing player will be particularly enticing for teams with limited salary-cap space, with the Houston Rockets and Los Angeles Lakers as two obvious options.
The Rockets are $16.2 million over the cap, with the Houston Chronicle's Brian T. Smith reporting the team is expected to chase Jimmy Butler in free agency. Even if they fall short in landing Butler, the Rockets will have to make every dollar count as they strengthen their roster this summer.
Likewise, ESPN.com's Adrian Wojnarowski and Bobby Marks reported the Lakers are doing everything they can to create enough space to accommodate a max contract after agreeing to a trade for Anthony Davis. Los Angeles will little money left over to add depth if it succeeds in finding a third star.
Whatever Korver's future holds, it seems likely he'll start the 2019-20 season on a team that isn't Memphis.