The Minnesota Timberwolves aren't holding onto O.J. Mayo for long.
Two league sources told ESPN.com that the Wolves have reached an agreement in principle with the Memphis Grizzlies that will send the draft rights of Mayo, Marko Jaric, Antoine Walker and Greg Buckner to the Grizzlies in return for the draft rights to Kevin Love, Mike Miller, Brian Cardinal and Jason Collins.
The deal is a blockbuster for both teams. ESPN.com reported on Tuesday that the Wolves GM Kevin McHale was infatuated with Love, but felt that the team had to select Mayo and use him to acquire more assets.
In addition to landing Love, the Wolves get a sharp-shooting swingman in Miller who can help carry the scoring load from the perimeter. The deal is also a financial boon for the Timberwolves who get the bad contract of Jaric (three years, $21 million) off the books. Walker and Buckner's contracts are not guaranteed after this season.
The Grizzlies get the superstar they wanted in the backcourt in Mayo. The also rid themselves of Cardinal's bad contract (two years, $13 million). The Grizzlies now have a glut of guards on the team with Mayo, Mike Conley, Kyle Lowry and Javaris Crittendon.