What happened: The Memphis Grizzlies are sending forward Santi Aldama to the Dallas Mavericks in exchange for AJ Johnson, a protected 2030 first-round pick originating from Golden State, and two future second-round picks. Dallas also lands the draft rights to Tarik Biberovic in the deal. The move gives the Mavericks added frontcourt versatility while Memphis deepens its haul of future draft capital.

Why it matters: The structure lets Memphis preserve the full $29 million trade exception generated by the Jaren Jackson Jr. trade, which would have been trimmed by the franchise's earlier offseason moves. Holding that exception intact keeps a sizable mechanism available for absorbing salary later. The trade extends a Memphis roster reshaping that has steadily prioritized flexibility and picks over established rotation pieces.

What to watch: Watch how Memphis deploys the preserved $29 million exception before it expires and whether more moves follow. In Dallas, Aldama's fit alongside the existing frontcourt rotation will shape his role for the 2026-27 season.