The Dallas Mavericks are acquiring Memphis Grizzlies restricted free-agent point guard Delon Wright in a sign-and-trade agreement on a new three-year, $29 million contract, agent Greg Lawrence and team sources told ESPN.
The Grizzlies will receive two future second-round picks in the deal and preserve financial flexibility to pursue other options at point guard.
Memphis acquired Wright, 27, in last season's trade that sent Marc Gasol, a franchise pillar, to the Toronto Raptors. The Grizzlies also acquired Jonas Valanciunas in that trade. They recently re-signed Valanciunas to a new three-year, $45 million contract.
Memphis selected point guard Ja Morant with the No. 2 pick in the 2019 draft.
Wright is 6-foot-5, elite size for a point guard, and he can defend multiple positions.
He was a key member of the young bench that elevated Toronto in 2017-18. He shot 37 percent from 3-point range in that season, a career high. If he can approach or exceed that number on more catch-and-shoot attempts playing next to Luka Doncic, he could prove to be a nice fit in Dallas.