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The Memphis Grizzlies have agreed to trade point guard Mike Conley to the Utah Jazz for guards Kyle Korver and Grayson Allen, forward Jae Crowder and two first-round picks, multiple media outlets reported on Wednesday.

According to multiple reports, the picks will be Utah’s 23rd overall selection in Thursday’s draft and a protected 2020 first-rounder, which would convey in 2020 or 2021 if it falls between picks eight and 14, or as a lightly protected pick in 2022 (top six), 2023 (top three) or 2024 (top one).

The Athletic reports the Grizzlies, who also hold the second pick in Thursday’s Draft and are expected to take Murray State point guard Ja Morant, will listen to offers for the 23rd selection acquired from the Jazz.

The deal, which cannot be made official until July 6, ends Conley’s tenure in Memphis after 12 seasons. The 31-year-old returned from an injury-plagued 2017/18 campaign to play in 70 games last season, averaging a career-high 21.1 points along with 6.4 assists and 3.4 rebounds per game.

He is under contract for $32.5m in 2019-20 and $34.5m in 2020-21, though he has an early termination option he could exercise next summer.

Conley was a rumoured target of Utah near the February 2019 trade deadline, but he stayed put while longtime team-mate Marc Gasol – who played 11 seasons in Memphis – was dealt to the Toronto Raptors, whom he helped win an NBA Championship.

Conley is the franchise’s all-time leader in games (788), points (11,733), assists (4,509) and steals (1,161) while sitting second behind Gasol in a slew of other categories.

With both Conley and Gasol gone, the Grizzlies’ longest-tenured player is Chandler Parsons (three seasons).

Korver, 38, joined the Jazz for his second stint in Utah via trade from Cleveland last season. He averaged 8.6 points in 19.1 minutes across 70 games, shooting 39.7 per cent from three-point range.

Crowder, who turns 29 on July 6, also joined the Jazz via trade from the Cavs, in a deal before the 2018 trade deadline. He averaged 11.9 points and 4.8 rebounds in 80 games (11 starts) for Utah last season.

Allen, 23, was Utah’s first-round pick last June, taken 21st overall. He appeared in 38 games (two starts) as a rookie, averaging 5.6 points in 10.9 minutes.

The Jazz finished last season with a 50-32 record, earning the No 5 seed in the Western Conference playoffs. They were eliminated in the first round by the Houston Rockets, 4-1.