ESPN report: Cavaliers involved in multiplayer trade with Memphis Grizzlies

CLEVELAND - The Cavaliers have made a multiplayer trade with the Memphis Grizzlies, ESPN reports.

Brian Windhorst of ESPN.com is reporting the Cavs will get forward Marreese Speights, guard Wayne Ellington and guard Josh Selby in return for forward Jon Leuer. The Cavs would also receive a future first round pick from the Grizzlies.

The trade would allow Memphis to shed more than $6 million in payroll.

The 25-year-old Speights in his fourth season out of Florida was a first round pick in 2008. He is averaging 6.5 points and 4.7 rebounds per game this season. Speights started 54 of Memphis' 60 games last season and averaged 8.8 points and 6.2 rebounds.

Ellington averages 5.5 points in 40 games off the Grizzlies' bench. Selby has been used sparingly, seeing minutes in just 10 games.

The trade would allow the 26-14 Grizzlies to get under the luxury tax threshold.

Speights makes $4.2 million this season and has a player option of $4.5 million for 2013-14, which the Cavs can take on with their cap space.