Deal Announced in the Middle of the Finals: Details and Contracts
The 2024/25 Finals series was still under way when the general managers of Orlando and Memphis leapt ahead of every rival in the offseason intrigue. The sides agreed on a headline-grabbing trade that will become official before the technical turn of the basketball calendar.
The Magic land an elite, ready-made sharpshooter in Desmond Bane, tied to the Grizzlies on a four-year, $163.2 million contract.
Heading the other way:
- Kentavious Caldwell-Pope — two years left at $43.2 million;
- Cole Anthony — likewise two years, $26.2 million;
- four first-round picks (three fully unprotected, one lightly protected) — including the 16th pick in the upcoming 2025 Draft and Phoenix’s 2026 pick;
- a 2029 first-round pick swap (top-2 protected).
The salaries match cent for cent on the 2024/25 cap sheet. If the paperwork drags into the new season, Orlando would slip into an unwanted apron violation, so the signatures will be inked as quickly as possible.
Why Orlando “Overpaid”: A Surgical Fix for the East’s Weakest Offense
The Magic’s defense has struck fear for years, yet their offense is a standing punch line. In the 2024/25 regular season the team ranked a lowly 27th in offensive rating (108.9), beating only the league’s true cellar dwellers. The playoffs exposed the flaw even more: against Boston, Paolo Banchero’s crew mustered a paltry 103.8 points per 100 possessions and averaged just 93.6 points.
The critical hole is the three-point arc. Orlando shot a mere 31.8 % from deep in the season, an abysmal 26.3 % in the postseason. Opponents happily walled off the paint and mid-range, daring wide-open threes that clanged away. Even two-time champion spot-up ace Kentavious Caldwell-Pope slid to 34.2 % under Florida’s sun.
Bane is the pinpoint remedy. He owns a 41 % career rate from distance on 6–7 attempts, and he kept it at 39.2 % last season. One simple sidestep and Banchero plus Franz Wagner gain driving lanes, while Jalen Suggs sees extra pick-and-roll corridors.
Yes, four firsts are a steep price. Yet, eyeing the contender window, the Magic knowingly “over-pay” to haul themselves out of the offensive basement. The front office is convinced that by the time the unprotected 2028 and 2030 picks ship out to Tennessee, the club will be battling for a top-four seed in the East, making those selections late in Round 1.
How the Magic’s Lineup Transforms Around Their New Sharpshooter
- Projected starting five: Suggs — Bane — Wagner — Banchero — Wendell Carter Jr.
- Bench depth takes a hit with Cole Anthony gone. The front office is searching for a veteran guard who can defend both back-court spots and spell the starters.
- The club still holds its mid-level exception, so the tools for targeted upgrades remain intact.
Florida is seizing the moment. Boston is coping with a Jayson Tatum injury, Milwaukee is rebooting around Giannis and Lillard, and New York just changed coaches. A clear lane to the conference summit is a rare chance, and the Magic plan to exploit it within the next two years.
Memphis Changes the Script: Flexibility for a New Course
The Morant — Jackson — Bane trio became the symbol of the bold Grizzlies, but across four seasons together (excluding the injury- and suspension-riddled 2023/24) they captured only one playoff series. The same story kept repeating: dazzling regular-season run, springtime ceiling crash.
The club had to alter its philosophy or move one of its main stars. Bane drew the short straw as the market’s most coveted shooter and a colossal financial load: he would have pocketed $87 million over 2027/28 and 2028/29.
What the Grizzlies receive:
- Four first-rounders and a swap — ammunition for future deals. Even if Orlando’s picks end up late, Phoenix’s 2026 selection could drop to the lottery as the Suns age around Durant.
- Reduced tax pressure. The freed cash eases a max extension for Jaren Jackson Jr., a long-term pact for Santi Aldama, and room to wield the non-taxpayer mid-level for depth.
- Two proven veterans. Caldwell-Pope can patch the perimeter defense that sagged without Dillon Brooks. Cole Anthony currently overlaps Scottie Pippen Jr.’s role, but used correctly he can be an energy spark off the bench.
Hidden Pitfalls: Could Memphis Slide Straight into a Rebuild?
On the surface the trade looks like a rebuild trigger, yet club president Cleus Wallace called it “a retool, not a surrender.” The new CBA’s luxury-tax shackles are crushing three-max projects; the two stars + depth model is becoming the norm.
- Morant remains the franchise face and has already switched agents, signaling readiness for a major ambition reset.
- Jackson, post-knee surgery, should return to his 2023 DPOY anchor level.
- Surrounding the duo with defensive wings, high-energy bigs, and budget shooters is a time-tested recipe that succeeds far more often than a three-star gambit.
Thus, the decisive variable is the monetization of draft capital. Keep the Phoenix pick? Package assets for a disgruntled star forward? Or patiently grow replacements inside the Grizzlies’ system? The front office will search for answers this summer.
Tactical Breakdown: How the Playbook Changes
|
Team |
Before the Trade |
After the Trade |
Key Change |
|
Orlando |
Paint-heavy offense, five-out rarely worked |
High-low with Banchero, dribble-handoff for Bane |
Spacing expands by 1–2 m, boosting Banchero isolation volume |
|
Memphis |
Morant-Bane staggers, 40 % of possessions in pick-and-roll |
Morant + JJJ two-man action, more off-ball screens for KCP |
Heavier perimeter defense emphasis, reduced shooting variety |
Deal Economics: Balancing a “Push Forward” and a “Safety Net”
- Orlando stays below the first apron and keeps a $6.3 million trade exception for extra reinforcements.
- Memphis escapes the looming second apron, gaining flexibility for buyouts and veteran minimums.
The widespread notion that the Magic “sold the future” is misleading — they are cashing in mid-tier picks at peak value while preserving payroll wiggle room. Conversely, the Grizzlies accept Caldwell-Pope and Cole as short-term weight to shed Bane’s long money, buying breathing room for the distant horizon.
Outlook: Who Wins Today and Who Wins Tomorrow?
Immediate winner — Orlando. The club fixed its primary weakness and assembled a core that, on paper, already looks top-three in the East if healthy.
Long-term X-factor — Memphis. Should even one acquired pick mature into a starter-level player or fuel a star trade, the move will retroactively grade out as an “A.”
Basketball is a game of chances and contexts. Florida believes its moment has arrived and has pulled the perfect joker from the deck. Tennessee, meanwhile, is stacking new cards, confident the big payoff is still ahead.
The point is that both sides acted from strategy, not panic. The Magic’s window is “now,” the Grizzlies’ plan is “2027.” Time will crown the winner, but the league already profits: competition intensifies, storylines multiply, and the suspense for next season is sky-high.
