Kentavious Caldwell-Pope of the Memphis Grizzlies has decided to pick up his player option for the 2026-27 season, according to ESPN’s Shams Charania.

The veteran guard will earn $21.6 million next year and is now positioned to become an unrestricted free agent in the summer of 2027.

The move was largely expected, as Caldwell-Pope was unlikely to receive a contract on the open market matching the value of his option. By opting in, he secures one more season at a premium salary while keeping future flexibility.

Acquired by Memphis from Orlando in the Desmond Bane deal last offseason, Caldwell-Pope appeared in 51 games during the 2025-26 campaign.

He averaged 8.4 points, 2.7 assists, and 2.5 rebounds in 21.3 minutes per game while shooting 41.0% from the field and 31.6% from three-point range.

A respected veteran and two-time NBA champion with the Lakers and Nuggets, Caldwell-Pope spent years as a dependable perimeter defender and floor spacer.

However, his production has dipped in recent seasons, particularly after signing a three-year, $66 million deal with Orlando in 2024.

With Memphis continuing to build around a younger core, Caldwell-Pope’s expiring contract could make him a realistic trade option before next season or ahead of the trade deadline.

Grizzlies’ Caldwell-Pope Exercising 2026/27 Player Option https://t.co/B5Ao022jPp