Valanciunas, 26, was drafted by the Raptors in the first round (fifth overall) of the 2011 National Basketball Association entry draft and is in his seventh season with the team.
Given their position in the standings (they have the second-most wins in the NBA) and the uncertain future of Kawhi Leonard, the Raptors are clearly in win-now mode.
Sports Illustrated reported earlier this week that Toronto offered guard Kyle Lowry and center Jonas Valanciunas to Memphis in exchange for Mike Conley and Marc Gasol.
The Raptors are now second in the Eastern Conference with a record of 39-16, while the Grizzlies rank among the worst in the league at 22-23. He can get it done against like-sized defenders and smaller ones on switches, giving the Raptors another weapon they can go to when the game slows down.
Miles, in his 14th campaign, has struggled with the Raptors this season.
Pellegrini eyeing Liverpool victory to boost Hammers and Man City
Add to that, the injuries to Samir Nasri and Marko Arnautovic, which have stacked the odds against them even more. Grey shirted, the Premier League leaders produced a performance to match the East London sky.
All of which is to say, the Raptors lost two guys who hadn't been key pieces all season and one in Valanciunas who was replaced by someone who is significantly better at the same position.
Elsewhere on the Grizzlies roster, former Jazz PG Shelvin Mack was also traded.
The 34-year-old Gasol now takes his defensive presence to the Eastern Conference where he could possibly put the Raptors in the promised land. He scores, he rebounds, he passes, he even shoots threes.
Every indication since Tuesday was that Marc Gasol would ultimately end up with the Charlotte Hornets. Wright is a nice wing to add, and extra picks are never bad, but a second-rounder from the Raptors isn't exactly that exciting.
"I personally want to be in Toronto", Lowry said, per The Athletic. Maybe not to the exact same extent - particularly when it comes to Miles, who is a volume 3-point shooter - but in a way that makes a three-for-one trade worth Toronto's while. Either not much, or that was an excellent poker face he displayed.