The Celtics have agreed to trade guards Kris Dunn and Carsen Edwards to the Grizzlies in exchange for forward Juancho Hernangomez, an NBA source confirmed.
The teams also will swap second-round picks in the 2026 draft.
The deal will not be completed until Sept. 15, the source said, because Dunn, who was acquired from the Hawks last month, is ineligible to be aggregated in a trade until then. Dunn, a defensive-minded point guard, became more expendable after free agent point guard Dennis Schröder signed a one-year deal with the Celtics last month.
Hernangomez, 25, is entering the second season of a three-year, $21 million contract, but the final season is nonguaranteed, as the Celtics continue to focus on maintaining future roster flexibility. He averaged 7.2 points and 3.9 rebounds per game for the Timberwolves last season and is a career 35.1 percent 3-point shooter.
Hernangomez was traded to Memphis last month in the deal that sent veteran guard Patrick Beverley to Minnesota.
Edwards, the 33rd overall pick of the 2019 draft, was unable to establish a consistent role in his two seasons with the Celtics. The team hopeful that he could provide bursts of bench scoring, but he made just 30.2 percent of his 3-pointers.
The high point of his Boston career came in a game that did not count when he drilled eight 3-pointers in the third quarter of a preseason win against the Cavaliers as a rookie.
The Celtics now have 15 players under contract for this season, including veteran forward Jabari Parker, whose deal is nonguaranteed. Training camp opens on Sept. 28.