I've seen several trades of OKC for Cam Boozer. While I don't personally think this is the best direction for the Thunder or think it has a good chance of happening, OKC trading for the #5 pick and the Clippers being willing to move it is the only way I see it being possible. Neither the Grizzlies or Bulls would move off #3/#4 without getting #5.
For the Clippers, they are going to need at least 1 player upgrade, a 2026 draft pick, and their 2027 pick returned to even consider it. Here they are getting one of the better bench big men in Aldama, #17, and their 2027 pick returned. I could see the Clippers asking for more, but I think this is a pretty solid return.
For the Grizzlies, this comes down to just not feeling like Cam Boozer or Caleb Wilson are franchise altering talents. Boozer as a high floor low ceiling type player just doesn't move the needle for a rebuilding team the same way it does for a contender like OKC. He appears to have All-Star level talent that might end at fringe All-Star, and they are looking to go after higher upside. A guard like Darius Acuff that could one day be a 25ppg scorer moves that needle. For trading down, the Grizzlies get #5 to draft Acuff, #12 and keep #16 to draft the best wing combos they can (Ament/Carr/Morez/Quaintance/Hannes, etc), 2027 Spurs & Nuggets 1sts, and a high upside PG swing with Nikola Topic. Both players traded (Spencer/Aldama), while talented, are older at 26 and clear future cap space for Aldama that now doesn't fit the new timeline. The Grizzlies also can't roster the #32 pick, and it holds more value to OKC as a cheap $1.3m roster spot.
For OKC this is the home run swing of the off-season in my opinion. You secure a fringe All-Star type talent in Cam Boozer, get a more ready now player with more toughness and grit in Cam Spencer, and save several million $ with pick #32. 5 1st's and Topic is a huge price to pay, but that's what it would require. OKC could also would have this team rostered for both 26/27 & 27/28 seasons without the need for any rookies in the 2027 draft, but they could also decline Joe and trade into the late 1st round with 2nds (or assets from trading Dort/Wiggins). OKC drafts Cam Boozer #3 and Alex Karaban #32. OKC declines and re-signs IHart for 4/$99.5m and offers Cason Wallace 5/$93.75m. They also decline and resign Kenrich Williams on a vet minimum. They find trades for Lu Dort (or decline his TO, but he's probably worth a 1st to 1 swap) & Aaron Wiggins (easily get at least 2 2nds) to bring back $0. That brings their 26/27 cap to $221,163,071, almost $1m shy of the 2nd Apron. If they keep Caruso and pay Ajay, that puts them very deep into the 2nd Apron in 27/28 & 28/29, but they should be able to get out of the 2nd Apron for 29/30 (a situation they are already in without this trade).
PG: SGA, Ajay, Spencer
SG: Wallace, McCain, Joe
SF: JDub, Caruso, Karaban
PF: Boozer, JWil, Kenrich
C: Chet, IHart, Sorber