The deal, finalized over the weekend and confirmed by multiple league sources including ESPN and The Athletic, sees Orlando Magic send Kentavious Caldwell-Pope, Cole Anthony, and a massive haul of four unprotected first-round picks, plus a pick swap, to Memphis in exchange for Bane—one of the NBA’s most coveted two-way guards.

Orlando’s ambitions

Orlando Magic has quietly assembled one of the league’s most promising young cores, with Paolo Banchero, Franz Wagner, and Jalen Suggs all showing star potential. Yet, despite last season’s playoff breakthrough, the Magic’s glaring weakness was their inability to shoot from deep, finishing dead last in the NBA in three-point percentage. Enter Desmond Bane.

Bane, 26, has established himself as one of the league’s premier perimeter threats, averaging 19.2 points, 6.1 rebounds, and 5.3 assists per game last season while shooting a blistering 41% from beyond the arc over his career.

He is one of only three players to hit 800 or more threes at a 40% clip since 2020, joining an elite group that includes Stephen Curry. Bane’s arrival instantly transforms Orlando’s offense, providing much-needed spacing and a secondary playmaker to complement Banchero’s inside-out game.

Magic president Jeff Weltman made it clear that the franchise is ready to move from rebuilding to contending. “Desmond’s character and work ethic are held in high regard across the league, and we believe he will fit seamlessly with our existing players both on and off the court,” Weltman said in a statement. The move signals that Orlando is done waiting for incremental growth—they’re ready to compete with the East’s elite.

Memphis’ reset: flexibility and future assets

By trading Bane, who is owed $163 million over the next four years, Memphis gains significant salary cap flexibility and an enviable collection of draft assets. Caldwell-Pope, a proven 3-and-D veteran with championship pedigree, and Cole Anthony, a young guard with upside, provide immediate rotation help.

But the true prize is the four unprotected first-round picks and a valuable pick swap, giving the Grizzlies the ammunition to either rebuild around Ja Morant and Jaren Jackson Jr. or pursue another star via trade.

As the dust settles, both teams will be watched closely. Orlando’s gamble on Bane could vault them into the East’s upper echelon, while Memphis’ asset haul gives them options few teams can match.