Memphis will get the rights to 2005 second round pick Ricky Sanchez in return.
The Grizzlies were looking to make a move to get below the tax threshold which they were barely above. Chris Broussard of ESPN.com had mentioned yesterday that the team was looking to make a move like this.
Young is in the final year of his deal. The small forward had played in 21 games this season, averaging 3.5 points per game.