The Nets are adding a former lottery pick to their rebuilding squad.
In a cost-cutting move by the Grizzlies, the Nets are acquiring small forward Ziaire Williams, the No. 10 pick in the 2021 draft, according to ESPN.
Brooklyn also will receive a 2030 second-round pick via Dallas in the deal, while sending forward/center Mamadi Diakite to Memphis.
Diakite had been included as salary filler from the Knicks in the Mikal Bridges blockbuster trade earlier this month.
Williams, who will earn $6.1 million in the final season of his rookie contract in 2024-25, averaged 8.2 points and shot only 30.7 percent from 3-point range in 20.4 minutes per game over 51 appearances last year for the Grizzlies.
The 22-year-old Stanford product is eligible for a rookie extension until Oct. 21.
Memphis was looking to shed salary to stay under the first luxury-tax apron of the salary cap.
Diakite is slated to make $2.27 million this season after appearing in only six NBA games in 2023-24 — three apiece with the Spurs and the Knicks.
The Nets had a $9.5 million trade exception available after sending veteran Royce O’Neale to the Suns in February.
Brooklyn also took back Bojan Bogdanovic and Shake Milton in the Bridges deal for salary-matching purposes, along with five first-round picks (four unprotected) and a future unprotected first-round swap from the Knicks.