Navarro, one of the best point guards in Europe, was originally drafted by the Wizards in 2002 with the 40th overall pick in the second round.

The 27-year-old never appeared in Washington's team, opting instead to play for Barcelona.

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But the Spanish club agreed last month to a buyout that would allow Navarro to move to the NBA.

"We're pleased to acquire a first-round pick," said Wizards president Ernie Grunfeld in a statement.

"By trading the rights to Juan Carlos Navarro...we have greater flexibility to build our team."

Washington was 41-41 last season and lost in the first round of the playoffs to the Cleveland Cavaliers. Memphis finished 22-60, the worst record in the NBA.

Navarro will play alongside fellow Spaniard, forward Pau Gasol, in Memphis.

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