The Memphis Grizzlies and Orlando Magic shocked the NBA world with some massive trade news earlier in the day. Orlando acquired guard Desmond Bane from the Grizzlies in a blockbuster deal, breaking up the core group in Memphis. More NBA news: Magic Land Desmond Bane From Grizzlies in Blockbuster Trade

NBA Finals are in full swing, but trade season is already here. The Memphis Grizzlies and Orlando Magic agreed to the first blockbuster of the summer, with a massive deal that aims to push the Magic into the elite tier of the Eastern Conference.

The Orlando Magic are acquiring Desmond Bane from Memphis in a deal that sends Kentavious Caldwell-Pope, Cole Anthony and draft capital to the Grizzlies, according to a person with knowledge of the agreement.