The Nets are adding a former lottery pick to their rebuilding team.
In a cost-cutting move by the Grizzlies, the Nets acquire small forward Jere Williams, the 10th overall pick in the 2021 draft.
The deal would see Brooklyn acquire a 2030 second-round pick via Dallas, while sending the draft rights to forward/center Mamadi Diakit and Nemanja Dungubik to Memphis.
Diakite was added as salary filler from the Knicks in the Mikal Bridges blockbuster trade earlier this month.
Williams, who will make $6.1 million in the final season of his rookie deal in 2024-25, averaged 8.2 points and 30.7 percent from 3-point range in 20.4 minutes per game in 51 games last year for the Grizzlies.
The 22-year-old Stanford product is eligible for a new extension through Oct. 21.
Memphis expected to take a salary cut to stay under the first luxury tax apron of the salary cap.
Diagit is scheduled to make $2.27 million this season after appearing in just six NBA games in 2023-24 — three each with the Spurs and Knicks.
The Nets received a $9.5 million trade exception after sending Royce O’Neal to the Suns in February.
Brooklyn reacquired Bojan Bogdanovic and Shayk Milton in the Bridges deal for salary-matching purposes, along with five first-round picks (four unprotected) and a future unprotected first-round swap from the Knicks.
