Report: Magic trade Luke Ridnour to Grizzlies

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We have our first trade of draft week, and it’s a real blockbuster. The Grizzlies have sent the rights to the 60th overall pick of the 2013 draft, Latvian wing Janis Timma, to the Magic for veteran point guard Luke Ridnour, according to Yahoo’s Adrian Wojnarowski:

This is fine for all involved. Ridnour is a perfectly serviceable backup point guard for Memphis, and trading him saves the Magic about $2.7 million in cap space.