Grizzlies forward Marc Gasol will reportedly be named NBA Defensive Player of the Year. (Jonathan Daniel/NBA/Getty Images)

Memphis Grizzlies center Marc Gasol will be named NBA Defensive Player of the Year, reports CBSSports.com.

The report was first attributed to Chris Vernon, a Memphis radio show host. 

The Grizzlies are one of basketball’s better defensive teams, even if Gasol’s numbers doesn’t show up in the stat sheet. He averaged 1.7 blocks a game, compared to Oklahoma City Thunder big man Serge Ibaka, who at three blocks a game led the league in that category. The Grizzlies allowed 99.3 points per 100 possessions and gave 89.5 points per contest.

Gasol averaged 14.1 points, 7.8 rebounds and four assists a contest for the Grizzlies, who are down 1-0 in their first round playoff series with the Los Angeles Clippers.

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Grizzlies forward Marc Gasol is out indefinitely with an abdominal tear. (Jonathan Daniel/NBA/Getty Images)

Memphis Grizzlies center Marc Gasol re-aggravated an abdominal tear he suffered two weeks ago and is out indefinitely, the team announced Saturday.

There is no timetable for Gasol’s return and he was already ruled out for tonight’s game against the Boston Celtics.

Gasol suffered the injury March 6 during a home game against the Portland Trail Blazers. He had been day-to-day ever since and re-injured himself in last night’s 90-83 loss against the New Orleans Hornets.

Gasol is averaging 14.3 points a game and 7.8 rebounds in 35 minutes, while playing all 68 games for the Grizzlies this season. The Grizzlies (46-22) are currently fifth in the Western Conference standings.

Oof. RT @KBergCBS: Grizzlies announce Marc Gasol re-aggravated abdominal tear last night at New Orleans and is out indefinitely.—
John Schuhmann (@johnschuhmann) March 23, 2013

UPDATE: The Grizzlies have reached an agreement in principle to trade small forward Rudy Gay to the Raptors, in a deal wthat will also include Toronto point guard Jose Calderon and Pistons forward Tayshaun Prince, league sources told Yahoo! Sports.

Calderon goes to the Pistons, with Prince and Austin Daye going to the Grizzlies, according to league sources via CBSSports.com’s Ken Berger.

Detroit, Boston and Dallas were teams mentioned in previous reports as potentially becoming the third team in this trade.

Jose Calderon goes to Detroit, with Tayshaun Prince and Austin Daye to Memphis as part of Rudy Gay deal, league source tells @CBSSports.—
Ken Berger (@KBergCBS) January 30, 2013

Mavs were indeed interested in Calderon, as they've been for ages, but refused to part w/Vince Carter and thus couldn't trump Prince & Daye—
Marc Stein (@ESPNSteinLine) January 30, 2013

PREVIOUS REPORTS: The much-rumored trade sending Grizzlies small forward Rudy Gay to the Raptors and a third team absorbing the expiring contract of point guard Jose Calderon appears to be nearing completion, according to Yahoo Sports! and other reports.

The Grizzlies reportedly have been searching for a third team to help facilitate a deal. ESPNDallas.com names the Mavericks as a possible third team.

Tim McMahon reports the Mavs, who have struggled to find a reliable starting point guard, have long been intrigued by the 31-year-old Calderon, and acquiring him and his $10.5 million expiring contract wouldn’t sacrifice their financial flexibility this summer.

Mavs center Chris Kaman and his $8 million expiring contract could be shifted to Memphis where he could back up Marc Gasol.

Yahoo Sports! reported that new Memphis ownership and management is determined to unload Gay and the $37 million owed him as soon as possible. The Raptors need a proven scorer like Gay, even if he is shooting just 40.8 percent overall and 31 percent for the Grizzlies.

Several league officials tell Y! Sports that Memphis has a plan to route Jose Calderon to a third team for assets in Rudy Gay deal.—
Adrian Wojnarowski (@WojYahooNBA) January 30, 2013

League source confirms Memphis-Toronto discussions for Rudy Gay deal have reached ownership level. Two and three-team scenarios in play.—
Ken Berger (@KBergCBS) January 30, 2013

Story to come on Rudy Gay deal between Memphis and Toronto. Jose Calderon headed to 3rd team – Detroit, Boston, Dallas in mix.—
Sam Amick (@sam_amick) January 30, 2013

The Grizzlies are still exploring a trade of Rudy Gay and are engaging in active discussions with the Raptors and Celtics. (Andrew D. Bernstein/Getty Images)

The Memphis Grizzlies and Toronto Raptors are in “active trade discussions” about forward Rudy Gay, ESPN.com’s Marc Stein reported Monday.

The Grizzlies are insisting that they no longer feel any overwhelming need to trade Gay after their trade with the Cleveland Cavaliers last week got them under the luxury-tax threshold. But the Raptors and Celtics, among other teams,  remain interested in swinging a deal before the trade deadline on Feb. 21.

From Stein’s report:

But sources say that the Raptors, undaunted by that stance, continue to pursue Gay and also covet Grizzlies forward Darrell Arthur. Toronto, sources said, has made veteran point guard Jose Calderon and blossoming young forward Ed Davis available as the two cornerstones of its offer.

The Boston Celtics, sources say, are another team that has registered exploratory interest in Gay. But making a trade for Gay would require Boston to part with Paul Pierce – a step that Celtics management may not be ready to take, especially since Gay has two years left on his contract valued at more than $35 million.

Stein reported that Grizzlies coach Lionel Hollins prefers to play out the season without trading Gay now that the team is under the luxury-tax threshold. The Grizzlies currently sit fourth in the Western Conference. Under Hollins, the Grizzlies have made the playoffs two seasons in a row, falling in the first round last year. The Raptors are 5 1/2 games out of a playoff spot in the Eastern Conference.

Statistically, the 26-year-old Gay is in the midst of his worst season since his rookie campaign in 2006-07. He is averaging 17 points and 5.9 rebounds per game on 40.4 percent shooting from the floor.

The Grizzlies traded forward Marreese Speights to the Cavaliers. (Rocky Widner/NBA/Getty Images)

The Memphis Grizzlies traded power forward Marresse Speights, point guard Josh Selby, shooting guard Wayne Ellington and a future draft pick to the Cleveland Cavaliers for seldom used power forward Jon Leuer, Yahoo! Sports reports.

The deal potentially saves the Grizzlies more than $6 million and takes them below the luxury tax threshold. The trade could mean that forwards Rudy Gay and Zach Randolph will not be traded. The NBA’s trading deadline is Feb. 21.

Speights could veto the trade because of the Bird rights clause, which allows teams to go over their payroll maximums. Speights, a former first-round pick in 2008, averages 6.6 points and 4.7 rebounds a game.

Ellington is in the final year of his deal and will make $2 million this season. Selby has played in 10 games this season for the Grizzles, who are 26-14 and 4th in the Western Conference standings.

Leuer has only played in nine games this season for the Cavs and averages less than three points a game.

Grizzlies trade Speights, Selby and pick to Cavs for Lauer, source said.—
Marc J. Spears (@SpearsNBAYahoo) January 22, 2013

The Memphis Grizzlies have a number of teams inquiring about their players, including Rudy Gay. (Christian Petersen/Getty Images)

The NBA trade deadline is still more than a month away but Rudy Gay continues to be at the forefront of talks between the Memphis Grizzlies and a number of other teams.

The Phoenix Suns are reportedly engaged in conversations with the team to acquire the swingman, as outlined by Adrian Wojnarowski of Yahoo! Sports  and now the Toronto Raptors are entering the sweepstakes, according to a report on Wednesday from Marc Stein of ESPN.

Memphis is still unsure whether they will officially say that Gay, 26, is on the market, but the Raptors are reportedly set on acquiring him. Dialogue between the two teams is still in its early stages but the Raptors have already identified a couple of players that they would be willing to part with in order to acquire him before the Feb. 21 trade deadline:

Among the trade chips that the Raptors are believed to be dangling, in addition to draft considerations, are veteran point guard Jose Calderon (who has an expiring  contract worth $10.6 million) and young big man Ed Davis.

The Sacramento Kings, who might be moving to Seattle, are also interested in talking with the Grizzlies for a trade that might include Zach Randolph, according to a report Tuesday evening from Ronald Tillery of Memphis’ The Commercial Appeal. But those talks are also in their preliminary stages. As for Gay’s take on all of the rumors, he said it’s become a custom part of being an NBA player:

“This is every year. If it happens it happens. So what. I’m playing today as a Grizzly. It’s a business. People are going to talk and stuff will happen.”

Rudy Gay could be on his way out of Memphis. (Ron Hoskins, Getty Images)

The Memphis Grizzlies are looking for trade partners for small forward Rudy Gay, according to a report on Grantland.com.

The Grizzlies started off the season on a roll, but have since declined precipitously in offensive production. Memphis currently ranks 23rd in offensive points per game, though they pair that with the league’s best defense. The Grizzlies recently changed things up in the front office, hiring former ESPN.com NBA analyst John Hollinger thanks to his knowledge and use of advanced statistics in player scouting and team composition.

Trading Gay would amount to a seismic shift in the Grizzlies’ rotation. Gay currently plays just over 36 minutes per game, averaging 18 points with 5.8 rebounds and 2.6 assists per game, all of which are in line with his career numbers.

Mike Bibby could return to the Grizzlies, the team that drafted him in 1998. (Rocky Widner/Getty Images)

Veteran point guard Mike Bibby is looking for work again and may get a job with the team that gave him his first opportunity to play in the NBA almost 15 years ago. The free agent is working out with the Memphis Grizzlies, the team that drafted him second overall in the 1998 NBA Draft when the franchise was in Vancouver, according to a report today from Sam Amick of USA Today Sports.

Bibby, who last appeared in 39 games last season for the New York Knicks, is working out with four or five teams, according to Amick. The Los Angeles Lakers continue to look for even more depth at the point guard position because of injuries to Steve Nash and Steve Blake, but the team is reportedly not one of those four or five interested in Bibby.

The Grizzlies could use some depth at point guard because the roster is pretty thin after Mike Conley Jr.; Memphis doesn’t have much in terms of veteran leadership from the backcourt. The move to possibly sign Bibby, 34, could spell even less minutes for the young Jerryd Bayless, who continues to struggle in his first season with the Grizzlies.

Bibby, who currently lives in the Phoenix area, has career averages of 14.4 points and 5.5 assists. Last season with the Knicks he averaged 2.6 points and 2.1 assists in 14 minutes per game. At 14-4, the Grizzlies are currently second only to the San Antonio Spurs in the Southwest Division, so Bibby could be looking at a legitimate chance to get that elusive NBA ring.

Movie and recording star Justin Timberlake — a minority owner of the Memphis Grizzlies — visited his investment at Friday night’s game against the Los Angeles Lakers at the FedEx Forum, according to media including Kevin Ding of the Orange County Register. Timberlake also brought along new wife Jessica Biel:

Grizzlies might be fired up because @jtimberlake — minority owner of team — is sitting courtside with @JessicaBiel. … MEM 34, LA 18.—
KEVIN DING (@KevinDing) November 24, 2012

Timberlake made an impromptu visit to Grizzlies' shootaround today — even working out on the court (via @AJ_Journalist).—
KEVIN DING (@KevinDing) November 24, 2012

Timberlake had plenty of incentive to show up for the Grizzlies’ game against the Lakers. Memphis entered the game owning an NBA-best 8-2 record — along with the New York Knicks — to start the 2012-13 season.

After an on-court confrontation between Grizzlies forward Zach Randolph and Thunder center Kendrick Perkins, there was speculation that the two had another altercation in the locker room:

After getting ejected in the 4th quarter, Kendrick Perkins & Zach Randolph had an altercation near the locker rooms. Police investigating.—
Darnell Mayberry (@DarnellMayberry) November 15, 2012

Later, reports of the police investigation were negated:

Police captain saying an altercation did not take place and there is no investigation underway.—
Darnell Mayberry (@DarnellMayberry) November 15, 2012

Now, the NBA is getting involved with its own investigation, reports ESPN’s Marc Stein:

NBA spokesman says league is investigating Wednesday's reported confrontation in OKC hallway between Zach Randolph and Kendrick Perkins—
Marc Stein (@ESPNSteinLine) November 15, 2012

The dispute between Randolph and Perkins happened at the end of the fourth quarter in Wednesday night’s game, and both players were ejected afterwards by referee Ken Mauer:

The Grizzlies beat the Thunder 107-97 for their sixth straight win.

The NBA unanimously approved billionaire Robert Pera’s bid for the Grizzlies, reported the Memphis Commercial Appeal. The league’s finance committee unanimously approved the deal on Wednesday night, and the Board of Governors followed suit Thursday morning.

Pera, 34, is a wireless technology entrepreneur and had agreed to buy the team from current owner Michael Heisley for what is believed to be $350 million. Other investors who joined Pera’s bid include Justin Timberlake, Peyton Manning and Penny Hardaway. The deal still has to be closed with Heisley, but the league’s approval was viewed as the most significant obstacle.

Darren Rovell commented via Twitter:

When Robert Pera’s company’s stock started tanking, I thought there was no shot he would close Grizzlies deal. He put together quite a team.—
darren rovell (@darrenrovell) October 25, 2012

NBA Commissioner David Stern expressed his sentiments about the deal:

“We are delighted that the NBA’s Board of Governors has approved Robert Pera’s purchase of the Grizzlies,” said Stern in a statement. “Robert will no doubt bring great energy and passion to the franchise. He has assembled an ownership group with very strong local ties, and we anticipate that their commitment to the Memphis area will greatly benefit both the team and the community.”

Heisley, 75, purchased the team in 2000 and orchestrated the move from Vancouver to Memphis in 2001.

Sources tell Marc Stein of ESPN.com that soon-to-be Memphis Grizzlies owner Robert Pera has recruited Memphis native Justin Timberlake to be one of his minority partners.

Stein writes:

Sources told ESPN.com that Timberlake and Pera have quickly struck up a friendship, with one source adding that the singer/actor is making “a meaningful investment into the team” and “plans to be active” with the Grizzlies. The league office, sources said, has been made aware of Timberlake’s proposed involvement and is already well acquainted with him after inviting the self-proclaimed basketball junkie to participate in various celebrity games at All-Star Weekend.

Pera’s bid is on track to be approved by the NBA’s Board of Governors before the start of the season.

Five teams may be looking at Michael Redd. (Andrew D. Bernstein/NBAE via Getty Images)

Sam Amico of Fox Sports lists five teams as possible suitors for free agent guard Michael Redd and one for free agent guard Derek Fisher:

Apparently no interest from Cavs on Ohio guy Michael Redd, but teams mentioned as possible suitors include the…

Wizards, Nuggets, Grizzlies, Bulls, and yes, Thunder, who still have a spot available in the backcourt after Derek Fisher’s departure.

As for Fisher, it would not surprise me to see him end up with the Spurs.

Spain’s Marc Gasol and the Grizzlies kick off their preseason at home in Memphis against Real Madrid. (Christian Petersen/Getty Images)

Marc Gasol of the Memphis Grizzlies will get an opportunity this NBA preseason to play against some of his current Olympic teammates and the rest of the Real Madrid team from his native Spain, according to the Grizzlies’ website.

Memphis is set to open up their preseason at home in the Fed Ex Forum against Real Madrid on October 6 at 7 p.m.

Madrid’s roster got a boost this offseason from Rudy Fernandez, who announced in July that he will leave the NBA to play for Madrid. The team also has Sergio Rodriguez, who spent four seasons in the NBA before returning to Spain in 2010. Both of them are currently on Spain’s Olympic basketball team with Gasol.

The Grizzlies’ preseason home game against Real Madrid isn’t the only example of the NBA making more of an effort recently to extend its reach internationally. The league announced in July that the Orlando Magic and New Orleans Hornets will play a preseason game in Mexico City on October 7, a night after the Grizzlies host Real Madrid. Gustavo Ayon of the Orlando Magic will get to play in his native Mexico against the Hornets, his former NBA team.

O.J. Mayo reportedly has interest from the Bulls, Lakers, Mavs and Suns. (Joe Murphy/Getty Images)

Memphis Grizzlies unrestricted free agent O.J. Mayo has the interest of the Los Angeles Lakers, Dallas Mavericks, Chicago Bulls and Phoenix Suns and will make a decision by July 24, according to a tweet from Marc J. Spears of Yahoo! Sports.

Marc Stein of ESPN.com tweeted on July 11 that if the New Orleans Hornets match the offer sheet for guard Eric Gordon, Mayo would be “courted hard” by the Suns. The Hornets did, in fact, match the Suns’ offer sheet for Gordon, offering him $58 million over four-years.

The Suns now hope to pair either Mayo or Rockets unrestricted free agent Courtney Lee with newly acquired Goran Dragic, who played with Lee in Houston last season.

Mayo, who made $5.6 million last season with the Grizzlies, is one of the more talented scoring guards to enter this summers free agent class. He averaged 18.5 points in the 2008-09 season as a rookie, but scored only 12.6 points in 26 minutes per game last season.

Free agent G OJ Mayo getting interest from Lakers, Chicago, Phoenix and Dallas and hopes to make decision in next 10 days, source tells Y!—
Marc J. Spears (@SpearsNBAYahoo) July 14, 2012

O.J Mayo and Courtney Lee are two names at the top of Suns' list of guards to pair with Goran Dragic now that they've lost out on Gordon—
Marc Stein (@ESPNSteinLine) July 14, 2012

If Hornets match PHX offer sheet to Eric Gordon, as they've vowed, desert sources say this is definite: OJ Mayo will be courted hard by Suns—
Marc Stein (@ESPNSteinLine) July 11, 2012

The Grizzlies will sign guard Jerryd Bayless, right, to help replace the production of O.J. Mayo, left. (Joe Murphy/Getty Images)

The Memphis Grizzlies have reached a deal with free agent guard Jerryd Bayless, reports ESPN’s Marc Stein.

The Memphis Commercial Appeal reports the contract is for two seasons.

Bayless can help replace the production of guard O.J. Mayo, who is expected to leave Memphis this offseason as a free agent. Bayless played the best season of his NBA career last year with the Toronto Raptors. He averaged 11.4 points and 3.8 assists per game.

Toronto decided to withdraw its qualifying offer to Bayless last week. The Raptors took Washington guard Terrence Ross with the No. 8 pick in the NBA Draft, and Bayless’ playing time likely would have dropped this year.

Now, Bayless will be asked to add some scoring punch to the Grizzlies’ bench. Mayo scored 12.6 points per game last season. If Bayless can continue to build on his production with Toronto, he could fit well with Memphis.

The Memphis Grizzlies issued qualifying offers to two of their impending free agents, but they did not extend one to guard O.J. Mayo. That makes the sought-after Mayo an unrestricted free agent.

Ronald Tillery of Memphis’ Commerical Appeal writes that Mayo’s high qualifying threshold — $7.4 million — factored into the Grizzlies’ decision to let him go without compensation. The team is only $7.7 million from having to pay the luxury tax.

The Boston Celtics are frequently cited as having a great deal of interest in Mayo; the team nearly completed a deal for him (for Ray Allen) at this season’s trade deadline. Now they may be able to add Mayo to their roster without giving up anything in return.

The Boston Celtics are interested in trading for Memphis Grizzlies’ guard O.J. Mayo. (Steve Babineau/Getty Images)

The Boston Celtics are considering trying to trade for Memphis Grizzlies guard O.J. Mayo and, though nothing is imminent, may be willing to include forward Brandon Bass in a sign-and-trade deal, reports CSNNE.com‘s A. Sherrod Blakely.

The Celtics nearly pulled off a trade for Mayo at the trade deadline in March. According to a report by Yahoo! Sports’ Adrian Wojnarowski, Boston coach Doc Rivers had actually called veteran guard Ray Allen to tell him he had been traded, only to have to call him back when the deal fell apart at the last minute.

It appears the Celtics are interested in making another run at Mayo. The team is at a turning point with Kevin Garnett and Allen – two of the team’s Big Three – both free agents. Some of the team’s top role players, including Bass, are also free agents.

Bass, a young, athletic forward, could be an attractive piece for Memphis. But he would need to sign off on any potential sign-and-trade deal. Blakely reports Bass will likely want a deal close to the four-year, $26-million contract signed by Glen “Big Baby” Davis.

Boston’s two first-round selections in Thursday’s draft, Ohio State’s Jared Sullinger and Syracuse’s Fab Melo, both provide the team with depth in the frontcourt. Those picks may make it easier for the team to move Bass for Mayo, a high-scoring combo guard.

Pau Gasol is reportedly being shopped by the Los Angeles Lakers, possibly in a deal that would land him back in Memphis with his brother, Marc. (Joe Murphy/Getty Images)

The Los Angeles Lakers are open to trading for less-talented players in exchange for center Pau Gasol, and the big man could soon be teaming up with his brother, Marc, in Memphis with the Grizzlies, according to Mitch Lawrence of the New York Daily News:

The Lakers are committed to moving Pau Gasol — the fall guy for their second-round ouster against the Thunder and previous playoff failures — even if they have to take back less talent. As long as Heisley retains the Grizzlies, Memphis will always have interest. Heisley has always wanted to bring Gasol back, pairing him with his brother, Marc.

According to Lawrence, Grizzlies current owner Michael Heisley was going to sell the team to Robert J. Pera, a Silicon Valley technology executive, for $350 million. But less than a month after the two sides came to the agreement, Lawrence reported that Pera’s company took a plunge in the stock market and his net worth reportedly went from $1 billion to $200 million. Lawrence then offered up new information from sources close to Pera who confirmed that the prospective owner “has a net worth of well over $800 million, counting 60 million shares of Ubiquiti Networks, a Silicon Valley communications technology company.”

It’s not clear who the Grizzlies would give up in exchange for Gasol, but if Heisley likes the idea of the Gasol brothers playing together, then the owner of the Grizzlies, whether it be Heisley or Pera, would probably have to part with Zach Randolph. Gasol is due $40 million over the final two years of his contract with the Lakers, while Randolph has $34 million owed to him over the next two years with a player option worth $16.5 million for the 2014-15 season.

Robert J. Pera may not be Grizz’s new boss, after all. (Joe Murphy, Getty Images)

Update, June 18, 4:35 p.m.: Information cited in this blog post was incorrect. The original story below was based on inaccurate information reported in the New York Daily News. The report of Pera’s net worth was changed from $200 million in the initial report, to “well over $800 million” in a later update. More market analysis on Pera’s firm Ubiquiti can be found here.

Communications magnate Robert J. Pera just agreed a fee to buy the Memphis Grizzlies earlier this week, but already his bid may be in trouble. A rough week at the market for Pera’s communications technology firm Ubiquiti networks is to blame, according to a report from the New York Daily News.

Ubiquiti’s stock has fallen precipitously over the last two weeks, a drop that affects not just the company but also Pera’s personal net worth. Valued at nearly $1 billion just two weeks ago, Pera is now believed to sit closer to $200 million, less than the $350 million he bid for the Grizzlies, according to the report. If Pera’s bid does fall apart, current owner Michael Heisley will retain control of the team.

Memphis Grizzlies owner Michael Heisley will reportedly sell the team to 34-year-old Robert Pera for $350 million. (Joe Murphy/Getty Images)

Memphis Grizzlies owner Michael Heisley has reached a deal to sell the team to 34-year-old Robert Pera for around $350 million, ESPN.com‘s Mark Stein reports.

The tentative deal must be approved by the NBA Board of Governors.

Heisley nearly sold the team in 2006 to a group including former Duke star Christian Laettner, but the deal fell through late in the process.

Pera started his own communications company, Ubiquiti Networks, at 25 and was named one of the 10 youngest billionaires by Forbes, Stein reports. But his company has taken some hard hits recently.

In early May, the company’s stock price plummeted, apparently because of allegations it was tied to the mafia, a contention the company said was a lie spread by counterfeiters it was cracking down on. Last week, the company again saw a stock hit that Forbes reported removed Pera from the ranks of billionaire. It said his new net worth was an estimated $980 million.

Stein reports Pera is a big basketball fan and plans to keep the team in Memphis.

The Memphis Grizzlies owner said that Rudy Gay will not be traded, despite the rumors. (Andrew D. Bernstein/Getty Images)

Rudy Gay will  not be traded after all, according to Memphis Grizzlies owner Michael Heisley in a report from Ronald Tillery of the Memphis Commercial Appeal:

We’re not looking to trade Rudy Gay,” Heisley said. “We’re not shopping him around. Period. Do we sit around and say ‘What if we traded Rudy, who could we get?’ No. Right now, Rudy is part of the future of this team. Our plan was always to protect the core. I’ve the core for four years. If we ever decide to do something it won’t be because of salary. We’re going to build a team around this core group. We understand Rudy’s salary. We understood it when we gave it to him. We’re not looking to cut salary. We’re looking to try and win a championship.”

Rumors have swirled in recent weeks of Gay’s departure from the Grizzlies. Most recently, CBSSports.com reported a potential trade that would involve Gay going to the Toronto Raptors in exchange for the Raptors No. 8 pick in the 2012 NBA Draft at the end of June. Golden State was also rumored to be interested in the 25-year-old Gay. According to Tillery, other teams had also expressed an interest in him including Brooklyn, Orlando and Charlotte.

With $16.4 million due to him in the 2012-13 NBA season, Gay is set to become the Grizzlies second-highest paid player, just $100,000 shy of the $16.5 owed to Grizzlies power forward Zach Randolph.  There are three years and $53.6 million remaining on the $84 million contract Gay signed with the Grizzlies in 2010.

Despite losing to the Los Angeles Clippers in Game 7 of the first round of the NBA playoffs this post-season, Gay averaged 19 points, 6.6 rebounds, 1.4 assists and 1.3 steals, virtually identical to his stats from this past regular season.

The Memphis Grizzlies might trade Rudy Gay this offseason, according to a report. (Joe Murphy/Getty Images)

The Memphis Grizzlies will consider trading Rudy Gay this offseason, league sources told Hoops World‘s Alex Kennedy.

Gay, 25, is owed $53 million over the next three seasons. He has been mentioned in trade rumors over the past two seasons, but Kennedy reports things should grow more serious this summer.

The report lists the Golden State Warriors, Toronto Raptors, Brooklyn Nets and Orlando Magic as teams possibly interested in Gay.

The Grizzlies fell to the Los Angeles Clippers in the first round of the playoffs this year. Gay averaged 19 points per game in the series but shot only 21 percent from behind the three-point line.

In 2011, with Gay sidelined with an injury, the team advanced to the second round.

Blake Griffin has admitted that he was seriously limited by a sprained left knee during the Los Angeles Clippers’ Game 7 win yesterday over the Memphis Grizzlies, reports Broderick Turner of the Los Angeles Times.

The Clips beat the Grizz, 82-72, on the road to close out the series and advance to face the San Antonio Spurs in round two. But while his teammates closed things out in crunch time, Griffin was largely watching from the bench; Kenyon Martin and Reggie Evans were manning the paint for L.A. Griffin played just 1:39 in the fourth quarter.

“There just were movements I couldn’t do and I wanted to do,” Griffin said. “And I don’t want to ever put my teammates in a situation where I feel like I’m hurting them, where physically I can’t do what I need to do.”

Griffin played only 28 minutes in the Clippers’ win; he turned in a final stat line of eight points, four rebounds and two blocks.

He has no time to rest now — the Clips visit the Spurs for Game 1 tomorrow night.

We have an injury update on Caron Butler of the L.A. Clippers — it is indeed a fractured hand, and Butler is likely out for the rest of the playoffs, the team announced today.

Butler sustained the injury in the third quarter of the Clips’ comeback Game 1 win over the Memphis Grizzlies — he got caught in Rudy Gay’s jersey coming off a screen, and the hand was stuck. Butler broke the fifth metacarpal in his left hand; an X-ray taken later in the game confirmed the injury.

The Clippers said today that Butler is expected to be sidelined four to six weeks.

The Clips face the Grizzlies in Game 2 on Wednesday night at 9:30 p.m.

The Los Angeles Clippers staged an epic comeback to beat the Memphis Grizzlies in Sunday night’s Game 1, coming back from down 24 with 8:54 left by ripping off a 28-3 run and winning 99-98. But the news wasn’t all good for the Clippers — small forward Caron Butler broke his left hand earlier in the game.

“I feel terrible for him,” Clippers coach Vinny Del Negro told the L.A. Daily News. “He’s been such a pro for us, but injuries are part of it. Other guys are going to have to step up like they did tonight. But replacing Caron right now … He’s been so valuable for us all year. I know the guys feel bad.”

Butler played 23 minutes earlier in the game, posting 12 points and two rebounds, but he hurt himself getting caught in Rudy Gay’s jersey on a screen early in the third quarter. He tried to stay in the game but later left for an X-ray.

“I was about to go back in the game and got the X-ray results,” Butler said. “I told Coach I was ready, and he was about to throw me back in the fire.”

The exact outlook is unknown on Butler, who also sat out last year’s playoffs with an injury as the Dallas Mavericks won the NBA Finals, but it doesn’t look good. The Clippers take on the Grizzlies on Wednesday night at 9:30 p.m. Eastern for Game 2.

After a successful pair of 10-day contracts with the Cleveland Cavaliers, Lester Hudson has found another job — he’s caught on with the Memphis Grizzlies, according to the Associated Press.

Hudson played 13 games during his brief stint with the Cavs this season and put up huge numbers — 12.7 points, 3.5 rebounds and 2.7 assists per game, including a career-high 26 points in an April 8 overtime loss to the New Jersey Nets.

“If he can come in and help us for one game or two games in the playoffs, it’s always good,” Grizzlies coach Lionel Hollins said.

This is Hudson’s second stint with the Grizzlies — he played for the squad in nine games back in his rookie season of 2009-10. Hudson was originally drafted by the Boston Celtics, No. 58 overall, in 2009.

Memphis Grizzlies center Marc Gasol is listed as day-to-day after an MRI revealed that the center has a bone bruise on his left knee, according to Commerical Appeal.

Gasol received the MRI after leaving late in the fourth quarter of an 88-75 loss to the New Orleans Hornets.

Gasol sustained the injury when he fell to the floor as a result of Hornets guard Xavier Henry attempting to defend Gasol from making a drive to the basket.  The center remained on the floor until teammate Zach Randolph and Hamed Haddadi helped him to the bench.

The Grizzlies (35-25),currently fifth in the Western conference, will next face the Minnesota Timberwolves (25-36) on Tuesday night.

Memphis Grizzlies power forward Zach Randolph did not attend the team’s shootaround today after being involved in a car accident on Monday morning, according to Commercial Appeal.

According to a source with knowledge of the accident, a vehicle rear-ended Randolph on the freeway in Memphis. Although Randolph did not leave the scene in an ambulance, it is not known whether he suffered any injuries.

In mid-March, Randolph returned to the Grizzlies after missing nearly three months with a right knee injury.  This season, the power forward is averaging 12.3 points and 7.4 rebounds per game.

The Grizzlies (32-23) are set to play the Los Angeles Clippers (34-22) tonight in Memphis.

Gilbert Arenas is getting closer to a comeback to the NBA — the free-agent guard worked out this morning for the Memphis Grizzlies, who are preparing to sign him for the rest of this season, reports Ronald Tillery of the Memphis Commercial Appeal.

Sources tell Tillery that Arenas “appeared slender and shot the ball well” this morning, and pending a physical, he’ll be signing on the dotted line to make the prorated veteran’s minimum for the rest of this season, about $300,000. If the deal is completed soon, he could join the Grizzlies in Portland later this week. The team is headed West now for a four-game road swing.

Arenas has been out of the league since December, when the Orlando Magic waived him under the amnesty clause. He was shipped to Orlando from the Washington Wizards in the December 2010 Rashard Lewis trade.

Arenas averaged career lows of 10.8 points and 2.7 assists per game last season. For his career, he has averaged 21.2 points and 5.4 assists per contest.

The Grizzlies have won 13 of their last 18 games and are now 25-18, fifth in the Western Conference.

Larry Ellison, the CEO of software giant Oracle Corp. ranked by Forbes as the third-richest person in the U.S., has inquired about buying the Memphis Grizzlies and wants to move them to San Jose, reports Ronald Tillery of the Memphis Commercial Appeal.

Ellison, who is worth $36 billion, has made unsuccessful attempts in past years to buy both the New Orleans Hornets and Golden State Warriors. He has inquired about the Grizzlies before over the past five years, to no avail.

Current majority owner Michael Heisley told the Commercial Appeal he doesn’t expect the team to be sold or relocated, and he emphasized that the Grizzlies have leased the FedEx Forum in Memphis through 2021.

“I can’t downplay it enough,” Heisley said of the Ellison rumor. “If it happens, I’ll be surprised. It’s in the initial stages. We’ve handled this just like we’ve handled several other dozen requests. My situation in Memphis has not changed a lick.

“My preference will always be for somebody in Memphis to buy the team. There’s not any interest in Memphis. But we’ve always made it known that if somebody wants to buy the team, we’ll listen. If they’re real buyers, we’ll probably be sellers. So far, there hasn’t been anyone willing to buy the team under my terms and for my price.”

Heisley’s price is reportedly $350 million.

All-Star guard Gilbert Arenas remains a free agent at age 30 — and he’s drawn the interest of the Memphis Grizzlies, according to Roland Tillery of the Memphis Commercial Appeal.

The Grizzlies have won 12 of their last 16 games and now sit fourth in the Western Conference at 24-17, but they’re still looking to address two main areas post-trade deadline — a backup point guard, and more outside shooting. They’re optimistic that Arenas would meet both needs.

Arenas hasn’t played a minute in the NBA this season — he’s been unemployed since December, when the Orlando Magic became one of the first teams in the league to use their one-time amnesty clause and waive him. The Magic still owe Arenas $62 million, but the veteran guard is free to sign with another team for the veteran’s minimum of $1.4 million. The Grizzlies have exactly one roster spot open.

Arenas was part of a blockbuster trade in December 2010 that sent Rashard Lewis to the Washington Wizards and Arenas to Orlando. He was disappointing in 70 games last season split between Orlando and Washington, averaging career lows of 10.8 points and 2.7 assists per game. For his career, he has averaged 21.2 points and 5.4 assists per contest.

The Philadelphia 76ers have acquired forward Sam Young from the Memphis Grizzlies for rights to Ricky Sanchez, who was drafted in 2005 and is currently in Argentina, according to David Aldridge from NBA.com.

Young is in the final year of his three-year rookie deal, making $947,000 this season.  He is expected to be put into the 76ers $2.7 million trade exception.

Young was chosen 36^th overall in the 2009 draft by the Grizzlies.  In his three seasons with Memphis, he has averaged 6.9 points per game.

Memphis Grizzlies forward Rudy Gay has a mild concussion and could miss tomorrow night’s game against the Los Angeles Lakers, reports Ronald Tillery of the Memphis Commercial Appeal.

Gay left yesterday’s win over the Denver Nuggets with concussion-like symptoms after taking an elbow to the head from Nene Hilario. He was reevaluated today, and team doctors confirmed the concussion.

As per the NBA’s new protocol for head injuries, Gay will have to pass a rigorous series of physical tests to confirm his health before returing to the floor.

The Grizzlies have won 12 of their last 15 games and skyrocketed to 24-16, fourth in the Western Conference. Gay is currently their leading scorer with 18.8 points per game.

Memphis Grizzlies rookie guard Josh Selby is facing a misdemeanor marijuana possession charge from an October incident at the University of Maryland, according to the Memphis Commercial-Appeal.

Selby, 20, has been summoned to appear in a Maryland district court on January 25, according to the Commercial-Appeal.

“I have no comment about it,” Selby said. “It is what it is.”

According to the Commercial-Appeal, Grizzlies general manager Chris Wallace is aware of the charge but the team will withhold judgment.

Selby was a second-round pick (49^th overall) by the Grizzlies in the 2011 NBA Draft. This season, he has averaged 4.5 points and 2.8 assists per game for Memphis.