Report: Grizzlies acquire Daniels in sign-and-trade with Hornets

The Memphis Grizzlies will acquire restricted free agent Troy Daniels in a sign-and-trade with the Charlotte Hornets, sources told The Vertical's Adrian Wojnarowski.

Daniels, 24, will then reportedly sign a three-year, $10-million contract with the Grizzlies.

Charlotte will receive a trade exception of roughly $1.6 million, according to the Charlotte Observer's Rick Bonnell.

Memphis will be Daniels' fourth team in four seasons. He went undrafted in 2013 before signing with the Houston Rockets in 2014. Daniels was dealt to the Minnesota Timberwolves just months into the 2014-15 campaign, then traded to Charlotte in February the following year.

In 43 appearances last season for Charlotte, Daniels averaged 5.6 points on 47.6 percent shooting, 1.3 rebounds, and 0.5 assists.