The Memphis Grizzlies are trading Desmond Bane to the Orlando Magic for Kentavious Caldwell-Pope, Cole Anthony, four unprotected first-round picks and one first-round pick swap, sources told ESPN on Sunday.

Orlando is sending Memphis the No. 16 pick in the 2025 NBA draft, its 2026 first-round pick (which includes swap rights with the Phoenix Suns or Washington Wizards) and its 2028 and 2030 unprotected first-round selections, sources said. The pick swap is top-two protected in 2029.

The move represents a massive swing for Orlando to compete in the Eastern Conference. For the Grizzlies, it's an opportunity to add a championship defensive wing, backcourt depth and a major haul of draft picks.

Magic president Jeff Weltman made clear the franchise was taking an aggressive, win-now approach to this offseason, and they now add Bane to the core of Paolo Banchero, Franz Wagner and Jalen Suggs.

Bane is one of three NBA players with 800 made 3-pointers and 40% 3-point shooting since entering the league in 2020, and he has shot 43.2% on catch-and-shoot 3s in the past five seasons, the third-best rate among players with at least 1,000 attempts, according to ESPN Research. He will be a major boost for the Magic, who ranked last in 3-point field goal percentage (31.8%) this season and last in catch-and-shoot 3s. In fact, the Magic had the worst 3-point field goal percentage in a season since the Los Angeles Lakers in 2015-16.

Bane, 26, averaged 19.2 points, 6.1 rebounds and 5.3 assists in 69 games this season. In five seasons, all with Memphis, he has averaged 17.8 points, 4.6 rebounds and 3.8 assists per game.

He is under contract through the 2028-29 season.

Caldwell-Pope, 32, averaged 8.7 points, 2.2 rebounds and 1.8 assists in 77 games for the Magic this season, his first with the franchise. The 12-year veteran has averaged 11.2 points, 3.0 rebounds and 1.8 assists in 912 games for the Detroit Pistons, Lakers, Wizards, Denver Nuggets and Magic. He has been a part of two championship-winning squads, with the Lakers (2019-20) and Nuggets (2022-23).

He is under contract through the 2026-27 season.

Anthony, 25, averaged 9.4 points, 3.0 rebounds and 2.9 assists in 67 games this season. He has averaged 12.5 points, 4.3 rebounds and 3.8 assists per game in five seasons, all with the Magic.

He also is under contract through the 2026-27 season.

ESPN's Bobby Marks contributed to this report.