Memphis Grizzlies
Absorb 2 Large contracts to move up from picks #17 & #51 ----> #10 & 40
Gain an additional FRP for 2022
Bledsoe may leave the Grizzlies through the buyout market
Steven Adams will be effective setting screens to Ja Morant
Adams has also expressed his hope to adding shooting to his game
Grizzlies have been exceptional at drafting in recent years, finding great value for their picks. They've acquired impactful players in the draft such as Ja Morant, Jaren Jackson Jr, Dillon Brooks, Brandon Clarke, and with later picks they've drafted steals such as Desmond Bane, and Xavier Tillman. The Grizzlies trading up should comfort Grizzlies fans as I wouldn't be surprised if they draft an instant impact player not only at #10 but also at #14. The 2022 Lakers pick should also convey to Memphis.
Rumors say that The Grizzlies have interest in Australian prospect Josh Giddey. They have also held a private workout with Moses Moody. It has also been rumored that they still want to trade higher in the draft to perhaps get a Scottie Barnes or Kuminga (just speculation). Aside from Giddey & Moody, they could use the 10th pick for James Bouknight or Franz Wagner. In the second round perhaps an Aaron Henry, Joel Ayayi, Kessler Edwards, Herbert Jones, or Vrenz Bleijenbergh. I don't know who they have their sights on for the 40th pick.
New Orleans Pelicans
Trade down in both 1st and 2nd round to relieve themselves from 2 bad contracts
Acquired a talented Center who can do damage in the post and has the ability to shoot from the perimeter in Jonas Valanciunas who is a better fit with star Zion Williamson
With newfound cap space post-trade, the Pelicans can target one of their coveted free agents such as Kyle Lowry, or match any offer that RFA Lonzo Ball may accept
Do have to add a 2022 pick for the trade to be accepted but the Pelicans don't mind losing that pick because of the abundance of draft picks that they obtained through the Anthony Davis and Jrue Holiday trades
I've heard rumblings of Brandon Ingram being content if he was traded to the Miami Heat, but I don't really see it happening even though the Heat do have assets to accomplish a trade. When it comes to the trade which has happened, the Pelicans have upgraded at Center with the addition of Valanciunas. If able to sign Kyle Lowry they can definitely make the playoffs with his leadership and playmaking ability. Lowry and Valanciunas would reunite bringing much-needed shooting to this Pelicans team. If they retain Lonzo instead, I can still see them do well by signing another free agent and their future draft acquisitions, perhaps propelling them to the play-in tournament.
With the 17th pick, I can see New Orleans picking lights out shooter Corey Kispert. Kispert adds another shooter that compliments the efficient paint production by Zion Williamson. If unable to sign Lowry or Ball, if Baylor star Davion Mitchell manages to fall this far, which is not that farfetched, in my eyes he would be a great pick for this team. Other possible point guard options if Lowry or Lonzo don't see the floor in a Pelicans jersey next season are Sharife Cooper & Tre Mann. If they want pure scoring Cam Thomas is a "walking bucket". I do like the idea of the Pelicans drafting 3 & D player Trey Murphy III.
Bonus
If or when Eric Bledsoe is bought out by the Grizzlies there are a few teams I can see him going to on a MINIMUM deal.
The Los Angeles Clippers are in need of a point guard pending the probable departure of Reggie Jackson who revived his career by breaking out this past post-season. If necessary Bledsoe could be a player they sign if unable to draft Jackson's replacement on Thursday.
The Philadelphia 76'ers have been rumored to be interested in signing Bledsoe if the opportunity presents itself. I'm not exactly a fan of this fit, but should a better point guard be acquired through perhaps a Ben Simmons trade, Bledsoe could be a serviceable backup.
The New York Knicks should be looking for a point guard this offseason, they may accomplish that in the draft or by signing Eric Bledsoe on a minimum deal.
With Mike Conley being a free agent, the Utah Jazz could be a team who would sign Eric Bledsoe as the all-star's substitute. I don't see the likelihood of this but I'll just put it out there.
If the Chicago Bulls are unable to get one of the point guards they want in free agency Bledsoe could be a last resort if bought out.
I've been a Bucks fan my whole life and as much as I've slandered Eric Bledsoe, I would be all for signing him as a backup on a minimum deal. The Bucks are tight on cap space and can't really make a splash in free agency. Portis, Tucker, and Forbes may leave to make more money which they definitely deserve so I wouldn't even be mad if they decide to leave. The return of Bledsoe on a small deal would allow the Bucks to have a cheap backup point. Jeff Teague would not be the ideal backup point guard so I'd happily welcome bled back.