Rockets, Grizzlies’ Roster, Salary Cap After Steven Adams-Victor Oladipo Trade

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The Houston Rockets and Memphis Grizzlies swapped a pair of injured veterans in a trade on Thursday night.

Per ESPN’s Adrian Wojnarowski, the Grizzlies sent center Steven Adams to the Rockets in exchange for shooting guard Victor Oladipo and three second-round draft picks. Neither player has appeared in a game so far this season.

By swapping Adams’ $12.6 million salary for Oladipo’s $9.5 million salary, the Grizzlies’ total cap allocations dropped to $158.3 million this season, per Spotrac. The Rockets remain in good salary cap health, as adding Adams brought their total cap allocations to $146.4 million.

ESPN’s Bobby Marks noted that Memphis also created a $3 million trade exception with the deal and he detailed how the trade improved the team’s salary cap health by getting them well under the second luxury tax apron for the 2024-25 season:

The Grizzlies are in the midst of a lost season after star point guard Ja Morant missed the first 25 games due to a suspension and then had his return cut short by a season-ending shoulder injury.

Memphis will be in line for a high draft pick in the 2024 lottery, so the team will be looking to continue building around Morant, Jaren Jackson Jr. and Desmond Bane.

The Rockets won’t see Adams on the floor this season while he continues recovering from knee surgery, but his presence will be beneficial to the development of rising center Alperen Sengun, who is becoming one of the best offensive big men in the league.

Bringing in Adams, who has long been one of the best defenders and rebounders at the center position, will surely help round out Sengun’s game.

The Rockets and Grizzlies are unlikely to see the postseason this year, so there’s a chance both teams aren’t done dealing before the Feb. 8 trade deadline.