Grizzlies Sign Jaren Jackson Jr. To Five-Year, $240M Deal

The Memphis Grizzlies and All-Star Jaren Jackson Jr. are expected to agree to a five-year, $240 million maximum renegotiation-and-extension, with a player option in the final year of the deal in 2029-30, sources told ESPN on Monday.

The new contract adds four years to the existing 2025-26 season on Jackson’s deal. The co-head of CAA Basketball, Austin Brown, and CAA agent Max Saidman have been negotiating a new agreement with the Grizzlies for the three-time All-Defensive Team member, securing a massive new deal to keep a cornerstone of the franchise in Memphis for the long term.

Jackson’s extension was the main focus for the Grizzlies this offseason. The 25-year-old, who is one of the best big men in the NBA after becoming the only player to record 1,500 points and 100 blocks last season, is a leader for the Grizzlies. Jackson recorded his fourth straight season with at least 100 made 3-pointers and 100 blocks, the longest streak in NBA history. He is also one of two players to defend guards, forwards and centers for at least 900 half-court matchups last season, along with Cleveland Cavaliers’ Evan Mobley.

Jackson averaged 22.2 points, 5.6 rebounds, 2 assists, 1.5 blocks and 1.2 steals over 74 games last season. The No. 4 pick in the 2018 draft out of Michigan State, Jackson has improved his offensive game each season. In 2024-25, he made the most floaters of any player in the league (155).

The move will be executed during the upcoming transaction window once the Grizzlies clear the necessary salary cap space. The Grizzlies started that process by trading Desmond Bane for Kentavious Caldwell-Pope, Cole Anthony and draft capital earlier in the summer. The Grizzlies are working with Anthony’s representatives at Excel Sports toward a resolution that creates space for Memphis and allows Anthony to find his next destination, sources said.

Jackson and fellow franchise star Ja Morant are now under contract together through the 2027-28 season. Morant is also eligible for an extension this summer.

The Grizzlies have also agreed to a three-year, $52.5 million deal with Santi Aldama and a two-year, $4.5 million fully guaranteed contract with guard Cam Spencer, according to sources.