Matt Barnes traded to Grizzlies for Luke Ridnour, according to report

The Memphis Grizzlies have agreed to trade recently acquired point guard Luke Ridnour to the Charlotte Hornets for Matt Barnes, reports Yahoo Sports' Adrian Wojnarowski.

The Grizzlies acquired Luke Ridnour on Wednesday for the rights of a former second round pick and have now flipped him for former Clipper Matt Barnes, who was traded to the Hornets along with Spencer Hawes for Lance Stephenson on June 15.

Barnes was not in the Hornets' plans and was going to be traded or waived, since his contract is only partially guaranteed. The veteran wing makes more sense on a Grizzlies team that is trying to win now and can use another defender and shooter. Barnes is not a marksman but shot a decent 36 percent beyond the arc last season, a number that would have ranked him tied for third in Memphis' roster in 2014/15. The challenge will be finding minutes for him with Courtney Lee, Tony Allen, Vince Carter and Jeff Green already under contract.

For the Hornets the motivation to pull the trigger is purely financial. While Barnes had $1 million guaranteed in his contract in case he was waived, Ridnour's deal is fully non-guaranteed. He's expected to be waived and enter the free agency pool. It's the second trade Charlotte has done in the past days after trading Gerald Henderson and Noah Vonleh for Nicolas Batum. There were rumors they were going to move Barnes for the Thunder's Jeremy Lamb but decided instead to go with Ridnour.