The Wizards acquired a future first-round pick from the Grizzlies for Spanish guard Juan Carlos Navarro, the team announced on Thursday.
Navarro, who was originally drafted in the second round by the Wizards with the 40th overall selection in 2002, was dealt to the Grizzlies on August 3, but the deal wasn’t finalized until today. “We’re pleased to acquire a first-round pick, which gives us an additional asset,” Washington president Ernie Grunfeld said. Navarro will battle with Mike Conley, Damon Stoudamire and Kyle Lowry for the starting point guard job in Memphis.