Wed, Jan 7, 2009 at 12:00am

LIVINGSTON DEALT, THEN WAIVED

The Memphis Grizzlies acquired guard Shaun Livingston and cash considerations from the Miami Heat for a 2012 conditional second-round draft pick.

What does it give the Memphis Grizzlies
Livingston has already been waived by the Grizzlies, who get cash in the deal in return for helping the Heat get under the luxury tax threshold. The Memphis Commercial Appeal reports the pick is protected unless it is in the draft's final five players (Nos. 56-60) so the Grizz lose little. Team GM Chris Wallace told the Commercial Appeal, "We made a little money off it."

What does it give the Miami Heat
The Grizzlies likely won't get much from the pick, but losing Livingston's contract gets them under the NBA's luxury tax threshold (meaning they now don't have to pay the dollar-for-dollar tax on the amount they would have been over the limit). They also get a one-year, $850,000 salary-cap exception if they decide to trade for another player.

Fantasy impact