According to Chad Ford, it could happen.
Chad Ford, ESPN Insider:
Here's a little tidbit for you to end the draft. I've been on the phone the last few minutes. The Wolves have been discussing a deal with the Grizzlies that would send Al Jefferson to Memphis for Zach Randolph. Your thoughts?
I dont understand how this would really help us, Al is a better post presence and Z isnt really a center anyway...
It was posted during a live chat with Chad Ford and Bill Simmons. Found here http://sports.espn.go.com/nba/draft2010/news/story?page=ford-simmons-100623