According to the report, the Celtics will send shooting guard Courtney Lee to Memphis in exchange for the veteran point guard.
The Celtics have reportedly been attempting to get Lee’s contract off the books, as he is owed more than $11 million over the next two seasons. Lee is shooting 49 percent this season, including 44 percent from 3-point range, and averaging 7.4 points per game.
Bayless was averaging eight points, his lowest mark since his injury plagued 2010-11 campaign with New Orleans, and is shooting just 37.5 percent. His value, though, is in the fact that his contract expires at the end of the year, which means Boston will have an even greater budget in free agency as they continue to rebuild.
In the offseason, the Celtics traded away veteran stars Paul Pierce, Kevin Garnett, and Jason Terry to the Brooklyn Nets to receive several expiring contracts. Despite sending half their starting lineup to Brooklyn, the Celtics are currently a game up on the Nets in the standings though both teams are playing under .400.