Sources: Conley sent to Jazz for 3 players, picks

Woj: Conley a perfect fit for Jazz (1:02)

Adrian Wojnarowski details the reasoning behind the Grizzlies' trade of Mike Conley to the Jazz. (1:02)

The Memphis Grizzlies have traded guard Mike Conley to the Utah Jazz for Grayson Allen, Kyle Korver and Jae Crowder, the 23rd pick in Thursday's draft and a future first-round pick, league sources told ESPN.

The Jazz will send a protected 2020 first-round pick to the Grizzlies, league sources told ESPN. That pick will convey as a late lottery pick in 2020 or 2021, or become a lightly protected pick from 2022 to '24. The deal will be complete on July 6.

Conley, 31, who has played all 12 seasons of his NBA career in Memphis, averaged 21.1 points, 6.4 assists and 3.4 rebounds per game this past season.

Conley and Crowder posted their reactions on social media.

He finishes as the Grizzlies' career leader in points (11,733), assists (4,509), 3-pointers (1,086) and games played (788).

He is signed through the 2020-21 season with base salaries of $32.5 million and $34.5 million, respectively, the next two seasons.

The move almost certainly means that guard Ricky Rubio will be elsewhere next season, even after he averaged 12.7 points and 6.1 assists for the Jazz this season.

The Associated Press contributed to this report.