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Posted: Wednesday January 4, 2012 3:30PM ; Updated: Wednesday January 4, 2012 6:38PM

Sixers send Speights to Memphis as part of three-way deal

Story Highlights

The 76ers have agreed to send Marreese Speights to Memphis

Grizzlies send Xavier Henry to Hornets, a second-round pick to 76ers

The Hornets will also send a second-round pick to Philadelphia

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Marreese Speights was the 76ers' first round draft pick in 2008, but his minutes have decreased in each season.
Marreese Speights was the 76ers' first round draft pick in 2008, but his minutes have decreased in each season.
David Dow/NBAE via Getty Images
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NEW ORLEANS (AP) -- Philadelphia, Memphis and New Orleans agreed on a multi-player trade Wednesday involving front-court player Marreese Speights and young swingman Xavier Henry.

The 76ers sent Speights to Memphis, the Grizzlies moved Henry to New Orleans and the Grizzlies and Hornets each sent a second-round draft pick to Philadelphia.

The 6-foot-6 Henry, in his second NBA season out of Kansas, averaged 4.3 points and 1.0 rebound in 38 games with Memphis.

"We are delighted to welcome Xavier to our team and the New Orleans community,'' Hornets general manager Dell Demps said. "We hope Xavier will develop into a good basketball player that will contribute to the success of the New Orleans Hornets this season and into the future.''

LOWE: Grizzlies hope Speights fills void in post

Henry became the first player in Kansas history to leave for the NBA after his freshman season.

The 6-10 Speights is in his fourth NBA season out of Florida and has averaged 7.2 points and 3.7 rebounds. The Grizzlies hope he will help make up for the loss of Zach Randolph, the star forward expected to miss six to eight weeks after tearing a ligament in his right knee.

Philadelphia general manager Rod Thorn said trading "will give us additional assets moving forward, including a trade exception, which will help us as we look to continue to improve our team.''

Teams with a trade exception have up to a year in which they can acquire more salary in other trades than they send away.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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