The Orlando Magic have agreed to acquire Desmond Bane from the Memphis Grizzlies in exchange for Kentavious Caldwell-Pope, Cole Anthony, four first-round picks and a first-round pick swap. This deal will likely be completed prior to the league year changing over on July 1, due to tax apron issues for Orlando.

The picks the Magic are sending the Grizzlies are the 16th overall pick in the 2025 NBA Draft, the Phoenix Suns 2026 first-round pick, Orlando's 2028 first-round pick and Orlando's 2030 first-round pick. The Magic will also send the Grizzlies a light-protected first-round pick swap in 2029.

The Magic were looking for shooting and scoring to help open the floor for Paolo Banchero and Franz Wagner. Bane averaged 19.2 points per game last season and has career shooting splits of 47/41/88. He's also a rugged defender and solid passer.

The Grizzlies will clear some long-term payroll with this trade. That's important, given the team has key free agents upcoming in Santi Aldama this summer and Jaren Jackson Jr. as soon as next offseason. Memphis could also clear some cap space to renegotiate-and-extend Jackson this offseason. Caldwell-Pope and Anthony will give Memphis affordable backcourt depth around star guard Ja Morant.