ESPN has this posted on their website
POSTED: Feb. 19 -- 3:05 p.m. ET
"Marc Stein: Looks like we have a fairly significant three-way deal that was submitted to the league just before the trade deadline.
NBA front-office sources tell ESPN.com that Orlando is acquiring Rafer Alston from Houston to fill the void at point guard created by Jameer Nelson's shoulder injury.
The Rockets will receive Memphis guard Kyle Lowry, Orlando forward Brian Cook and perhaps two other minimum-salaried players to make the finances work.
The Grizzlies will receive a first-round pick from Orlando."
In my opinion, it seems like a low first round draft pick wasn't enough in return for Kyle Lowry. Currently the Magic have the 5'th best record in the league which means the Grizzlies would get a 26'th pick if this pick is in next years draft. I wonder if there is anything else to the trade.
This definitely gives the keys to the team to Mike Conley. He has been playing much better lately since Hollins has been coach. He has scored double figures in 10 straight games. Great game last night with 15 points and 10 assists. I hope he is in good shape because he is going to need to play 35 to 40 minutes every night. It is great to see him playing with confidence. Teams have been leaving him open and he is hitting his shots.