UPDATED: The three-team trade is official.

Here are reactions from those involved:

Marreese Speights: "I feel real good about it. I got a fresh start so just get back on the ground and be prepared to play. I know they're (Memphis) a lot like us. They have a good coach in coach (Lionel) Hollins. I know them a little, they have coach (Henry) Bibby, who used to coach here a little bit.

Speights on what it will be like going to a new team: "I really don't know. This is my fourth year in the league and I've been with the same core of guys, so it's going to be hard to leave them, but it's a job and I'm going to a new situation."

Doug Collins: "Any time you make a trade, for me as a coach, it's a tough thing. I probably invested as much time and energy in Mo as any player. When I took over the job, myself and Michael Curry, we just really tried to connect and try to get the best of him because we know how talented he is. For whatever reason I just wasn't able to get the best (out of him).

"He is incredibly talented. I want Mo to go to Memphis and I want him to play great there. I want them to sign him to a contract and I want him to do well and he knows that. Hopefully this will be a new start for him. I feel badly that I couldn't get the best out of him. I think its fair to him to be able to go and get a new start.

"Hopefully he'll get into the rotation. He's going to a great spot, a playoff team. I feel good in that we piut him in a good position and I hope he does well."

Rod Thorn: "We wish Marreese all the best as he starts a new chapter in his career with Memphis. This trade will give us additional assets moving forward, including a trade exception, which will help us as we look to continue to improve our team."


NEW ORLEANS -- Sixers forward Marreese Speights will be traded to the Memphis Grizzlies in a three-team deal that would bring the Sixers a pair of second-round draft picks, a league source told the Daily News.

The deal has to be approved by the league, the source said, with a conference call likely taking place this afternoon.

The Sixers would trade Speights to the Memphis Grizzlies in return for their second-round draft pick in June's draft, provided it is pick 31-55. That means the Sixers wouldn't get the pick if the Grizzlies finish as one of the top four teams in the league. So it's a pretty safe bet they'll get that pick.

The Sixers would also get New Orleans' second-round pick in 2013 as part of the deal.

New Orleans would get guard Xavier Henry from Memphis. Henry has not appeared in any games this season because of torn ligaments in his ankle.

"I love my time in Philly. Y'all are some good fans I had a great time here. Love y'all. #showyaluv phillynation," Speights tweeted.

Said CEO Adam Aron via Twitter: "He wasn't getting playing time here and we got two draft choices back. We wish him well."

The Grizzlies have been looking for frontcourt depth and are in an even great need after news that Zach Randolph will be out 8 weeks. An MRI showed that he suffered a slight tear of the medial collateral ligament in his right knee when teammate O.J. Mayo fell on him during Sunday's loss to Chicago.

Speights has not seen any action thus far in the Sixers' four games. He played in only 39 games last season, averaging 5.4 points and 3.3 rebounds in 11.5 minutes. In his 3-year career, he is averaging 7.2 points and 3.7 rebounds.

A very good offensive player, Speights has struggled with his defense throughout his career. He was selected as the 16th pick in the draft out of Florida in 2008.

More to come