According to Marc Stein, the Sixers are on the verge of trading Marreese Speights in a three-team deal that would land Speights in Memphis, Xavier Henry in New Orleans and two future draft picks in Philadelphia.
No word yet on what type of picks the Sixers will get in this deal, but you'd have to believe they'll be second rounders. Probably not much of a haul, but it looks like they wouldn't be taking any salary back, and they'd be freeing up a roster spot. Speights hasn't played a second yet this season. A move like this was only a matter of time.
Cooney filled in some details on the picks the Sixers would get:
- Memphis 2nd-round pick in 2012 (bottom four protected, oddly)
- New Orleans 2nd-round pick in 2013
The Sixers will shave $2.7M off their books for this season, which brings their total commitment to $66.4M, for 13 players.
Had they taken Xavier Henry back, instead of including the Hornets, they'd be hovering around $68.6M. This move does create a little wiggle room under the luxury tax threshold, meaning the Sixers would have a little more space to make a trade work (the 150% trade exception only applies to teams who are under the tax after the trade), they could also use a portion of their MLE to sign a player now.
This probably won't be the last move they make this season, they typically carry 14 (15 is the max), so maybe they just pick up a warm body to round out the roster on a non-guaranteed deal.