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Grizzlies receive: James Johnson, Dion Waiters, 2022 1st round pick (swap best with Miami)
Heat receive: Chandler Parsons, 2022 1st round pick (swap worst with Memphis)
A strained relationship between Chandler Parsons and the Memphis Grizzlies organization, plus the humongous salary the former commands, has put both sides in an awkward position at this point in time. Parsons has turned out to be the exact opposite of what the Grizzlies envisioned when they signed him to a four-year, $96 million dollar contract two years ago. Injuries (and a level of play nowhere near someone with this contract should have) have distracted him from fulfilling expectations and he franchise is reluctant to play him. Memphis clearly does not want him anymore, but Parsons’ contract is borderline un-tradable.
Enter the Heat, who also have more than their fair share of undesirable contracts. One of them belongs to Dion Waiters, who is under contract for two more seasons. He has recently voiced his frustration due to him getting limited playing time since returning to action about two weeks ago.
This will basically be a swap of unhappy players. Parsons gets a new home in South Beach, a team that could really use some of the three-point shooting Parsons brings to the table, and Waiters gets a better opportunity for a Grizzlies team that desperately needs some offensive firepower at the two-guard position.
James Johnson is also included in the deal for two reasons: one, for salary-matching purposes; and two, he is a player that could possibly fit well within Memphis’ grit and grind culture and system.
There are also some money benefits for both sides: Miami gets rid of about $25 million one year earlier, as Parsons’ deal expires at the end of the 2019-2020 season, instead of having to wait until the summer of 2021 for both Waiters’ and Johnsons’ contracts to end; and as a compensation for taking on an extra year worth of salaries, the Grizzlies would get the benefit of swapping first-round picks with Miami in 2022 if the Heat’s draft selection comes earlier than their own, in which case Memphis would pick in Miami’s place and vice versa.