Go back to the summer of 2022 for a second. Ja Morant just made All-NBA, just signed a five-year, $197 million extension, and is the face of a Grizzlies team that everyone had penciled in as the West’s next contender.

But today, Morant was traded to Portland for Jerami Grant and Kris Murray. That’s it. No picks. Some of you reading probably have no idea if I’m making up the name “Kris Murray” and you probably know Jerami Grant as a journeyman wing on an understandable contract. That’s what the Grizzlies got for the guy who was once the most electric young guard in basketball.

That’s how far Ja torpedoed his trade stock. Between the guns, the suspensions, throwing coaches under the bus, and the injuries, Morant has shrunk from a generational talent to a salary dump all in just four years.

I have three thoughts on the trade. First, from the Portland side, then Memphis.

1. This feels like a setup trade for Portland

The Blazers already have three point guards: Damian Lillard, Jrue Holiday, and Scoot Henderson; plus a pair of 2-guards in Shaedon Sharpe and Blake Wesley; and now they’re adding Morant? What an odd way to build a roster.

But it would make perfect sense to add Morant if there’s another move coming for a wing/forward that can replace Grant. Right now, the depth chart is shallow there with just Deni Avdija, Toumani Camara, Vit Krejci, and Matisse Thybulle.

The Athletic’s Sam Amick said last week that Portland is the frontrunner for Celtics All-Star Jaylen Brown. Brown would make perfect sense following the Morant move: Send out Holiday, Sharpe, and Henderson with future draft picks to Boston.

The roster would be so beautifully balanced:

PG

Damian Lillard

Ja Morant

SG

Jaylen Brown

Blake Wesley

F

Deni Avdija

Vit Krejci

F

Toumani Camara

Matisse Thybulle

C

Donovan Clingan

Robert Williams*

*Williams is an unrestricted free agent and would need to be re-signed or replaced by a different center.

Of course, ESPN’s Shams Charania says the Blazers are signaling that they’re “done” and “out” on Brown. Maybe it’s true! But I don’t totally buy it. The roster would be extremely balanced with Brown replacing those guards. However, if Brown is far too expensive, maybe the Blazers could instead target someone like Pelicans forward Trey Murphy.

Nonetheless, the Morant acquisition doesn’t make a ton of sense until Portland flips some guards for some size on the wing.

2. Morant could be a major steal for Portland

I have always been a Ja skeptic. Even at the peak of his career, I criticized his aloof defense, his shot selection, and his streaky jumper. Then it all fell apart with the suspensions and all the other drama. But there comes a point sometimes that a player can go from “overrated” to “underrated.”

And that point came last week, when multiple reporters floated the idea that Memphis might need to attach draft capital just to get off Morant’s contract. Yes, it’s expensive: $87 million over the next two seasons. But it’s not some long-term albatross. He’ll only be 27 next season. And before he was shut down with a UCL sprain in his left elbow, he actually showed flashes of his All-Star self.

Over the first 12 games of last season, he was horrible. He stunk. He couldn’t get to the rim. He bricked jumper after jumper. He threw his coach under the bus. He looked worse than ever.

Then he missed a month.

And when he came back, he played eight games where his production looked basically identical to his two All-Star seasons: similar scoring efficiency, similar shot distribution, similar burst off the dribble. He had a 40-point game against the Sixers. He had 24 points and 13 assists against the Magic. And in his final moment in a Grizzlies uniform, he missed a 3-pointer that would have capped off a late comeback against the Hawks that he fueled with his playmaking.

Morant hit rock bottom in Memphis. Now in Portland, he has a chance to dig his way out on a team that’s on the rise, with an All-Star in Avdija, a veteran mentor in Lillard, and a new head coach in Micah Nori. Ja has something to prove. Portland is betting there’s still something left. Let’s see if he comes through.

3. Memphis will be better than you think

It’s obviously disappointing the Grizzlies couldn’t get much more back for Morant. But honestly, what could you really expect? It is easy to see why his trade market has dried up: Most teams already have a point guard, especially after this draft class was littered with quality guard prospects. Factor in his history of off-court troubles, his inability to stay healthy, and his salary, and you have a heavily distressed asset. That’s why Memphis couldn’t find much value.

However, Grant is on an extremely tradable contract and he looked revitalized last season before a calf injury limited his performance in April. Grant averaged 18.6 points on 39% from 3 while playing versatile defense for stretches of the season. At age 32, he can still offer something to a team that’s ready to compete.

Maybe that’s Memphis. Zach Edey will be back next season, and the Grizzlies had a +17 net rating in his minutes this past year. Cam Boozer should make an instant impact as a rookie. After an All-Rookie season, Cedric Coward could take a Year 2 leap. Their stable of guards — Ty Jerome, Pat Spencer, Scotty Pippen Jr. — are all very talented, high-efficiency, low-turnover players. And they’re deep.

But maybe Grant, at his age, isn’t really a fit. And Memphis, with a deep roster that’s in need of consolidation and a mountain of draft picks, could flip Grant as part of a package to another team that either wants to contend or compete.

So while the Morant trade was largely about washing their hands of Ja, and beginning anew, it was also about gaining flexibility that could lead to something far greater than the trade appears to be on the surface.

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