The Magic are sending guards Kentavious Caldwell-Pope and Cole Anthony along with four first-round picks and a pick swap to the Memphis Grizzlies for guard Desmond Bane. ESPN's Shams Charania first reported the news.

That's what they did on Sunday morning, as they traded for Desmond Bane and in return, sent Kentavious Caldwell-Pope, Cole Anthony, four first-round picks, and a pick swap to the Memphis Grizzlies. With Bane, the Magic now have a career 41% 3-point shooter who can defend and also make plays for others on the court.

The Orlando Magic are serious in building a competitive group around Paolo Banchero. On Sunday, the Magic traded away Kentavious Caldwell-Pope, Cole Anthony, four unprotected first-round picks and one first-round pick swap to the Memphis Grizzlies.