The Memphis Grizzlies failed to qualify for the Playoffs for the second straight season.
They finished 14th in the Western Conference with an awful record of 22–60, being only marginally better than the 20-62 Seattle SuperSonics.
In February, Pau Gasol was traded to the Los Angeles Lakers for his younger brother Marc, who would play the following season.
The Grizzlies biggest transaction this season has been trading their All Star center, Pau Gasol to the Los Angeles Lakers.
The trade gave the Lakers some strength in the front court and gave the Grizzlies some draft picks and prospects and it opened up room in their Salary Cap On February 1, 2008, the struggling Memphis Grizzlies, traded away their All-Star center Pau Gasol and a future second round draft pick to the Los Angeles Lakers, for center Kwame Brown, rookie point guard Javaris Crittenton, Aaron Mckie, the draft rights to Pau's brother, Marc Gasol, along with two future first round draft picks.