The deal
Charlotte Hornets get: Courtney Lee, SG (from Grizzlies)
Memphis Grizzlies get: P.J. Hairston, SF (from Hornets); Chris Andersen, C; and two second-round picks (from Heat)
Miami Heat get: Brian Roberts, PG (from Hornets)
The second trade of deadline week didn't have the sizzle of the Orlando-Detroit trade earlier in the day. But if you believe in a basketball butterfly effect -- and I just made that up, so you have time to decide -- all moves matter in the fantasy realm. There was one starting-level player moved (Lee), so that in itself has implications for two of the teams.
Let's take a look at what the deal means from a fantasy perspective.
What it means for the Hornets
In the short term, Michael Kidd-Gilchrist's season-ending injury was devastating, as much for the hole he left behind as it was for the production he provided. While MKG is an excellent player and did well after returning from his initial shoulder injury, the fact that Charlotte was 15.2 points per 100 possessions better with him on the floor says as much about his replacements (especially Hairston) as it does about him.
So for Lee, his acquisition is as much about plugging up a gaping wound than anything else. He was averaging 29.2 minutes for Memphis, and my guess is he'll stay in that range. He'll be the third option offensively in Charlotte's starting lineup behind Kemba Walker and Nicolas Batum, though he drops to fourth if Al Jefferson returns as a starter.
As the third guy, Lee is a notch higher than he was in Memphis, where he was averaging 10 points per game. Charlotte also plays about three possessions per game faster than Memphis. So Lee should get a boost in shots and perhaps can up his scoring average by a couple of points per game. Unfortunately, his overall floor game is limited, and as he'll be occupying a similar role for the Hornets as he did for the Grizzlies, that's not likely to change.
What it means for the Grizzlies
Lee started 37 games for Memphis, so his departure frees up some playing time for somebody. That somebody isn't likely to be Hairston even though he was a starter in 43 of the 48 games in which he appeared for the Hornets. There was a reason why Hairston did not have his team option picked up for next season and is headed into unrestricted free agency: His PER in 938 minutes this season is 7.5.
Barring another deal, Memphis will almost certainly mix and match on the wing with Tony Allen, Matt Barnes and Mario Chalmers. It's Chalmers who could get the biggest bump in playing time. If you hadn't noticed, Chalmers has played the best basketball of his NBA career since coming over from Miami earlier this season. Per 36 minutes, he has averaged 16.9 points, 4.2 boards, 6.2 assists and 2.1 steals. He's also averaging 6.7 foul shots per 36, as he has been given more chances to make plays off the dribble.
According to NBA.com/stats, in 131 minutes, lineups with Chalmers and Mike Conley have averaged 116.3 points per 100 possessions and outscored opponents by 13.6 points. That tells me we'll be seeing that pairing a lot more often. When Chalmers and Conley team with Allen on the perimeter, the passing lanes become a treacherous place to operate against Memphis.
What it means for the Heat
Nothing. The move was entirely money motivated. While Roberts can help the Heat as an instant-offense point guard off the bench, he won't be taking minutes from Goran Dragic or Dwyane Wade. Meanwhile, Miami surrenders Andersen, who was not a fantasy asset anyway. So no rotation players going out, and none coming back in.