The Memphis Grizzlies have reportedly agreed to a five-year, $240 million extension with Jaren Jackson Jr. The final year of the deal in 2029-30 is expected to be a player option. ESPN’s Shams Charania was first on the news.

It’s also been reported Memphis is negotiating a contract buyout with recently acquired guard Cole Anthony. This helps create the cap space for Jackson’s new deal.

Jackson is now set up as a franchise cornerstone for the Grizzlies moving forward. He had a very strong year, averaging 22.2 points, 5.6 rebounds, 1.2 steals and 1.5 blocks. He also shot 48.8 percent from the field, including 37.5 percent from three.

Memphis did financially benefit from Jackson missing out on an All-NBA Team, which made him ineligible for the Super Max. That would instead have put him in line for a five-year, $345 million contract.

Ja Morant is also secured with three years and approximately $126 million remaining on his deal. For the moment, it’s only Desmond Bane who has been broken up from the Grizzlies’ core.

Additionally, Memphis went ahead and re-signed restricted free agent Santi Aldama to a three-year deal worth $52.5 million.

Grizzlies Take Care Of Necessary Jackson Business

Regardless of which way Memphis moves from here, this was a necessary piece of asset management. Going into his age-26 season, Jackson can now go to work knowing he doesn’t have to worry about anything financially.

There’s been plenty to distract from the basketball itself in Grizzlies land the last couple seasons. All the while, Jackson has gone about his business in a professional manner. He has accomplished some notable feats, including winning Defensive Player of the Year in 2022-23.

Yes, it would be nice if he could offer better rebounding or add more efficient interior scoring. Those can be goals moving forward. Zach Edey showed decent potential in his rookie season and was very good on the glass, alleviating the concern over one of Jackson’s perceived weaknesses.

There have been reports the Grizzlies may not be finished either, allegedly in the mix to land guard Ty Jerome.

Grade: A

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