1) Trade Luke Kennard
With Smart sidelined, Luke Kennard becomes the biggest trade chip for the Grizzlies. That may have been the case even before Smart's finger injury. Kennard is the type of player most teams are clamoring for at this time of year: a sharpshooter with a consistent three-point shot. The guard can come off the bench at a moment's notice and change the momentum with a couple of big shots.
Like every other player in Memphis' core, Kennard has had to cope with injuries this season. He's played in only 14 games this season (as of Thursday evening) because of a bone bruise in his knee. His play has been uneven since his return, such as when he played 20 minutes against the Lakers without a single point.
But he's a three-point ace at his core. He's knocking down 41.3 percent of his threes this year. Last season, albeit in limited time, he hit 54 percent of his threes after being traded to Memphis. For his career, Kennard is a 43.6 percent shooter from three.
There are some obvious destinations where Kennard would work—the Orlando Magic and Philadelphia 76ers immediately come to mind—but there's no limit to the number of teams that would be interested in his skillset. That should help the Grizzlies maximize return, particularly in regard to future draft assets. Kennard also carries a club option for next year, meaning a team that benefits from the trade can keep him around for another season.
Trading Kennard should be a top priority for the Memphis Grizzlies as they figure out their path forward this season.