Memphis is eliminated from first place.

To show that Memphis is eliminated from first place, we start with the current conference standings:
            Team	W	L	GL	PCT	GB
   Oklahoma City	49	15	18	0.766	0.0
     San Antonio	44	17	21	0.721	3.5
         Houston	38	22	22	0.633	9.0
       Minnesota	39	23	20	0.629	9.0
          Denver	38	24	20	0.613	10.0
       LA Lakers	37	24	21	0.607	10.5
         Phoenix	35	26	21	0.574	12.5
    Golden State	31	30	21	0.508	16.5
     LA Clippers	30	31	21	0.492	17.5
        Portland	30	33	19	0.476	18.5
         Memphis	23	38	21	0.377	24.5
          Dallas	21	40	21	0.344	26.5
     New Orleans	19	44	19	0.302	29.5
            Utah	18	44	20	0.290	30.0
      Sacramento	14	49	19	0.222	34.5
           Total	466	460	304

Memphis can finish the season with at most 23 + 21 = 44 wins and will finish the season behind the following teams:
Oklahoma City has already won 49 games.