According to the Celtics official Twitter account, the team has sent 2012 first-round pick, Fab Melo, and cash considerations to the Memphis Grizzlies in exchange for Donte Greene.
The general consensus seems to be that Boston's trading of Melo is simply payroll related. The Celtics will no longer be responsible for the $1.3 million owed to the Brazilian big man in 2013-14, and, as a result, Danny Ainge and Co. have successfully achieved their goal of getting below the luxury tax line of $71.7 million.
With that said, the Celtics will also have to waive Greene upon acquiring him if they would like to achieve their ultimate goal. The former Syracuse Orangeman is currently on a deal that pays him a non-guaranteed $1.02 million this upcoming season.
Whether or not Boston will waive Greene outright or give him a chance to make the team this fall has yet to be seen. But the Celtics already have both Jeff Green and Gerald Wallace slated to receive minutes at the small forward position this year and Greene's career numbers of 6.1 points and 2.4 rebounds per game, according to Basketball-Reference, aren't doing him any favors.
This trade is a win-win for the Celtics. They get to wash their hands clean of the disaster that has been Fab Melo and they will now be considered a non-tax payer.