The first domino fell before the season, when Oklahoma City sent James Harden to Houston instead of signing him to a big-money extension, and more are sure to follow.
All told, the Grizzlies shaved nearly $40 million over the next three years after the two trades.
They'll get a hard-nosed defender in return in Prince, the 32-year-old forward who was drafted by the Pistons in the first round in 2002. He is averaging 11.7 points and 4.6 rebounds per game this season.
"Shocked obviously," Prince said after the Pistons played the Pacers. "I didn't find out, obviously, until I got here. I'm shocked, but it's a business and you never know what's going to happen."
Calderon joined the Raptors from Spain in 2005 and has been a fan favorite and trusted veteran on the team. He is averaging 11.1 points and 7.4 assists this season for the Raptors (16-29), who are desperately trying to scratch their way into the playoff picture. Toronto was in 11th place before the games were played Wednesday, 5½ games behind Boston for the eight seed.
Calderon and Davis had both been starting for the Raptors, but they do have Kyle Lowry waiting in the wings at point guard and likely see Gay's scoring punch as the key to vaulting back into the discussion in a mediocre conference.
Coach Dwane Casey will have to deal with a bit of a log jam with Gay, DeMar DeRozan, Terrence Ross, Landry Fields and Alan Anderson as wing players with similar skill sets. But getting a player with Gay's natural scoring talent, even at the expense of parting with a valued player like Calderon, proved too enticing to pass up.
"Hopefully this team is back to the playoffs as soon as possible," Calderon said.
AP Sports Writers Teresa Walker in Nashville, Tenn., Larry Lage in Detroit and freelance writer Amy Jinkner-Lloyd in Atlanta contributed to this report.
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