The Cleveland Cavaliers and the Memphis Grizzlies have agreed to a trade that will allow the Grizzlies to keep Zac Randolph and Rudy Gay, for the foreseeable future anyway. In the deal, which is still to be finalized today at some point, the Grizzlies will send Marreese Speights, Wayne Ellington and Josh Selby to the Cavs in exchange for Jon Leur and a possible future draft pick. The trade enables the Grizz to avoid paying the luxury tax this season, which had been the main reason why they were shopping Gay and Randolph around.

From ESPN.com:

Speights averages 6.5 points and 4.7 rebounds as a key big man off the bench for the Grizzlies but makes $4.2 million this season and has a player option at $4.5 million for next season. The Grizzlies owe Gay, Randolph and Marc Gasol nearly $50 million alone next year.

Ellington is averaging 5.5 points in 40 games off the bench for the Grizzlies (26-14), who stand fourth in the Western Conference and second in the Southwest, five games behind the San Antonio Spurs.

The Cavs were able to make the deal because they had more than $10 million in cap space in which to absorb Speights. That would likely mean the Grizzlies would receive a trade exception of more than $6 million that would be good for a year.

Selby has only played in 10 games this season, averaging two points. Leuer has played in nine games, averaging 2.4 points.