What happened: New Orleans receives AJ Johnson and Taj Gibson in return. ESPN's Shams Charania detailed the agreement Tuesday.

Why it matters: The transaction creates room for New Orleans to complete Bennedict Mathurin's two-year, $16 million signing. Memphis shifts two roster spots toward younger perimeter players for the 2026-27 season.

What to watch: Gibson's planned waiver is the next roster move; New Orleans will owe him $100,000.