Kyle Korver recalls the time he was traded for cash, some of which was used to buy a copy machine that has since broken down while he's still playing. (0:38)

As part of a Memphis Grizzlies-Phoenix Suns trade that includes four players, Kyle Korver is on his way to the Suns -- who plan to waive the guard and allow him to become a free agent, league sources told ESPN.

Korver -- whose expiring contract can be waived for the cost of $3.4 million -- will consider signing with the Los Angeles Lakers, Milwaukee Bucks and Philadelphia 76ers once he clears waivers, league sources said.

The Suns are trading the No. 4 overall pick in the 2017 NBA draft, underachieving forward Josh Jackson, to the Grizzlies with guard De'Anthony Melton, a 2020 second-round pick and a 2021 conditional second-round pick, league sources said. The Suns will also receive guard Jevon Carter, sources said.

The Grizzlies get a free look at Jackson but have long evaluated Melton as a guard with NBA staying power. History has shown that future Suns second-round picks are typically in the low-to-mid-30s.