Sources – Grizzlies send Adams to Houston for Oladipo, pick

The Houston Rockets have acquired Memphis Grizzlies center Steven Adams in a deal for guard Victor Oladipo and three second-round picks, sources told ESPN on Thursday.

The Grizzlies will acquire two 2024 and 2025 second-round picks in the trade, sources said.

Adams, 30, has been sidelined since January 2023 after undergoing right knee surgery, but is expected to make a full recovery for the 2024-25 season. The Rockets are looking to combine his physicality, rebounding and leadership as a backup to rising star center Alperen Sengun. Coach Ime Udoka has placed a premium on improving roster solidity and rebounding, and Adams gives the Rockets a player who led the NBA in offensive rebounding in both 2021-22 and 2022-23. Before injuring his knee last season, Adams averaged 11.5 rebounds over 42 games.

The deal unloads $12.4 million in guaranteed salary from the Grizzlies' payroll for 2024-25, leaving them about $17 million below the punitive $190 million level of the salary cap referred to as the second salary square. Oladipo, whose contract is expiring, has no timetable for his return to action.

With a slew of injuries this year — including season-ending shoulder surgery to All-NBA guard Ja Morant — the Grizzlies are in a unique position as a contending franchise for a high lottery pick in the 2024 NBA Draft. The Grizzlies have the option to add another young player, or use him in a trade to complement the team's core of Morant and Jaren Jackson Jr. Desmond Bane and Marcus Smart.

ESPN's Bobby Marks contributed to this report.