The deal will send Pittman along with a 2013 second-round draft pick to the Grizzlies. The Heat will acquire the international rights to Puerto Rican forward Ricky Sanchez, who is currently playing in Argentina, in order to fulfill NBA trade rules that the Heat acquire a player in the trade.
"I want to thank Dexter for his hard work and professional attitude," said HEAT President Pat Riley. "Unfortunately, in order to gain roster flexibility we had to trade someone. We wish him nothing but the best."
Sanchez, a 6'11, 220-lb forward, was originally drafted in the second round (35th overall) in the 2005 NBA Draft by the Portland Trail Blazers. He appeared in 75 NBA Development League games (22 starts) for the Idaho Stampede from 2006-08 and averaged 10.1 points, 3.6 rebounds, 1.5 assists and 25.1 minutes while shooting 41.4 percent from the field. The Puerto Rican native currently plays for Libertad de Sunchales (Argentina), appearing in 28 games this season and averaging 12.2 points, 7.1 rebounds, 1.9 assists and 31.9 minutes while shooting 42.2 percent from the field.