Update: Daniels agreed Saturday to sign a three-year, $10 million contract with the Grizzlies, Adrian Wojnarowski of Yahoo! Sports reports.
Analysis: Daniels had been a restricted free agent, which would have allowed the Hornets to match any offer the guard received, but the team bypassed that opportunity and instead negotiated a sign-and-trade deal that helped expedite Daniels' arrival to Memphis. In 43 appearances with the Hornets a season ago, Daniels averaged 5.6 points and 1.3 rebounds across 11.1 minutes per game. The 6-foot-4 guard has shown plenty of proficiency from distance in his career and hit 48.4 percent of his three-point tries in 2015-16, but he's not expected to see a dramatic increase in court time with move to the Grizzlies. He'll likely slot in behind Tony Allen, Chandler Parsons and Vince Carter for playing time on the wing.