Per Kevin O’Connor of The Ringer, the Houston Rockets have undergone trade discussions with the Memphis Grizzlies for their point guard Brandon Knight. Reportedly Daryl Morey is willing to part with a future first-round pick in order to get rid of his contract.

The Rockets are looking to do all they can to help their luxury tax bill to the minimum. They had acquired Knight this season and a whim that he would help shore up their guard depth. Unfortunately, he hasn’t been very helpful. Head coach Mike D’Antonio has hardly used him in the slightest.

The Grizzlies, on the other hand, are in full rebuild mode. They’ve been publicly clear that they’re trying to trade away both Mike Conley and Marc Gasol. Getting as many young assets and draft picks back is something they would like to do. Much like how the Knicks dumped their salary for Dennis Smith Jr. and two first round picks, the Rockets would like to get into the contract dumping party as well.

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The Rockets could also use some depth on the wing as well, and it wouldn’t be shocking if they were also trying to acquire Justin Holiday. The Bulls had just sent him to Memphis a month ago for two future second-round picks.

It may require them to send a few more draft picks, but it would help match the contracts as well. Trade exceptions would probably have to be involved as well. It remains to be seen if a deal will be done before next Thursday’s deadline.