Magic trade Luke Ridnour to Grizzlies, per report

With just over 30 hours remaining before the NBA Draft, the Orlando Magic made the first of what could be a handful of moves by trading veteran point guard Luke Ridnour to the Memphis Grizzlies. In return, the Magic acquired the draft rights to Janis Timma, the 60th pick in the 2013 NBA Draft. The deal was first reported by Yahoo! Sports' Adrian Wojnarowski. The team has yet to confirm the trade.

Ridnour, 34, signed a two-year deal with the Magic in free agency last summer. In his lone year with the Magic, the veteran point guard appeared in just 47 games, averaging four points and two assists in those contests. Ridnour, who had a team-option for $2.5 million, would have likely been waived by the Magic, if he wasn't traded.

The player the Magic got in return, Timma, is a relative unknown. The 22-year-old Latvian played last season for VEF Riga in the the Latvian Basketball League. He's a 6-foot-7 small forward, and will likely stay overseas for the foreseeable future.

For the Magic, moving Ridnour now opens up slightly more cap space for free agency, while netting them an asset. It's very possibly Timma never plays for the team, but getting something, is always better than nothing.