The Deal
Hornets get: Guard Courtney Lee (from Grizzlies)
Grizzlies get: Forward P.J. Hairston, 2018 Charlotte second-round pick, 2019 Brooklyn second-round pick (from Hornets); center Chris Andersen, 2017 Miami second-round pick (top-40 protected; or else 2018 second-round pick) and 2019 Boston second-round pick (top-55 protected) (from Heat)
Heat get: Guard Brian Roberts (from Hornets)
Charlotte Hornets: B
The Hornets got bad news Tuesday -- forward Michael Kidd-Gilchrist needs season-ending surgery to repair his right shoulder labrum, reinjured in just his seventh game back from preseason surgery to fix the same injury.
Charlotte currently holds the eighth and final playoff spot in the East but is only a half-game up on the ninth-place Detroit Pistons, meaning that barring teardowns elsewhere in the conference, there was urgency for the Hornets to replace Kidd-Gilchrist and upgrade on the wing.
Lee looks like a good fit for a team that has emphasized 3-point shooting this season. He's a far more accurate outside shooter than the player he's replacing, Hairston, who has hit just 31.4 percent of his frequent 3-point attempts this season. Lee is shooting 37.0 percent (38.3 percent career) beyond the arc.
He's also a capable wing defender, though Nicolas Batum will now have to handle most of the bigger opponents, a role Hairston and Kidd-Gilchrist had filled defensively because Batum's length and slender build make him a better defender against guards than physical small forwards.
Ultimately, I don't think adding Lee moves the needle much for Charlotte. The Hornets would still be heavy underdogs in the opening round if they can make the playoffs. For a franchise that has never won a playoff game since returning to the NBA via expansion, however, just getting there has value.
More importantly, Charlotte was able to make this move without giving up a first-round pick -- better value than the Portland Trail Blazers got for the similar Arron Afflalo this time last year. The Nets' 2019 second-round pick could be valuable because Brooklyn looks like a long, long-term rebuilding project, but that's too far in the future to count on at this point.
Memphis Grizzlies: B
While I'm a little surprised the Grizzlies couldn't get more for Lee, the market for 3-and-D wings isn't especially robust. I suggested the Oklahoma City Thunder were a good fit for Lee, but they may have preferred to wait and see whether Joe Johnson gets bought out rather than surrendering any picks for a more expensive player.
Grabbing whatever value is out there was probably the right move for Memphis. We still don't know whether Marc Gasol will be able to return from a broken foot in time for the playoffs, but either way, the Grizzlies aren't realistically a contender beyond the first round, and Lee is 30 and in the final season of his contract.
Memphis restocks a relatively depleted store of second-round picks (the Grizzlies owe their 2016 second-round pick, though they'll get the lesser pick of Boston and Toronto, and only keep their 2017 second-round pick if it's in the top five) and also get a semi-interesting prospect in Hairston.
Despite starting 43 games, Hairston was almost certain not to return to the Hornets after they declined his third-year rookie option, limiting them (and now Memphis) to offering him the amount of that option ($1.25 million) as an unrestricted free agent next summer.
Hairston's indiscriminate 3-point bombing has undermined any value he's provided as an improved defender this season. Though that's not likely to change with the Grizzlies, he's still 23 and barely a year and a half removed from being a first-round pick, so Hairston is worth a flier.
Once fellow 2014 first-round pick Jordan Adams returns from knee surgery, he and Hairston can take advantage of some of the minutes Lee was playing at shooting guard.
I'm less enamored of the return for Memphis from the the Miami half of this deal. Given how much the Heat save in luxury taxes (more on that in their section), getting a single real second-round pick seems like paltry return. However, Memphis may view Andersen as more than dead salary. The Grizzlies were looking for a backup center even before Gasol's injury, having signed journeyman Ryan Hollins to a series of non-guaranteed contracts.
Birdman has barely stretched his wings all season, playing a total of 36 minutes in Miami, so it's tough to say if he has anything left. Last season, however, Andersen made 60 percent of his 2-point attempts and was a fine rebounder and shot-blocker in limited minutes. So he certainly might be able to help.
Miami Heat: A-minus
From the Heat's standpoint, the primary motivation for this deal is financial. Swapping Andersen's $5 million salary for Roberts, who makes $2.8 million, saves them more than $6 million in salary and luxury-tax payment. Miami is now within $3.4 million of the ultimate goal of getting out of the tax entirely and resetting the clock on the repeater tax.
By avoiding the tax this season, the Heat wouldn't have to worry about the repeater tax until the 2019-20 season, barring changes in the NBA's collective bargaining agreement.
As a result, I wouldn't be surprised if Roberts is on the move again before the deadline. The Grizzlies couldn't keep him without risking the tax themselves, but Miami may be able to find a new home for Roberts. Then it would only need to shed a player making the minimum salary (most likely Jarnell Stokes) to get under the tax line entirely -- with enough wiggle room left over to sign a player to a prorated contract for the veteran's minimum at some point late in the season.
The Heat don't have many draft picks left to facilitate such a trade. This deal took care of their only remaining tradable picks before 2021. However, Roberts has enough value as a backup point guard that a team might take him into space or a trade exception, while cash would likely be enough to get a team to take Stokes.