Memphis Grizzlies Finalize $239.9 Million Extension for Jaren Jackson Jr.

On July 14, 2025, the Memphis Grizzlies officially announced the completion of a significant renegotiation and contract extension for Jaren Jackson Jr., securing the star player's services through the 2029-30 NBA season with a staggering $239.9 million deal. This contract extension comes just one day after the franchise reached a buyout agreement with recently acquired guard Cole Anthony, which was necessary to create the salary cap space needed for Jackson's new contract.

Jaren Jackson Jr., a standout player for the Grizzlies, had an impressive season, averaging 22.2 points and 5.6 rebounds over 74 games. His performance earned him a spot as an All-Star for the second time in his career. Furthermore, Jackson was named the NBA’s Defensive Player of the Year in 2023 and has been recognized as a three-time All-Defensive team member. Over his career thus far, he has averaged 18.5 points and 5.5 rebounds across 407 games with Memphis.

The new contract includes a raise for the upcoming season, bringing his salary to approximately $33 million. The extension will kick in during the 2026-27 season, starting at $46.2 million. According to Grizzlies General Manager Zach Kleiman, locking up Jackson is a pivotal component of Memphis’s strategy to build a competitive team around him and fellow star player Ja Morant. The organization aims to rebound from a disappointing first-round playoff exit in April, where they were swept by the Oklahoma City Thunder.

However, Jackson's future performance could be impacted by a recent injury. He underwent surgery for a turf toe injury sustained during offseason basketball activities. The Grizzlies have indicated that he will be re-evaluated in approximately 12 weeks, and they expect a full recovery, though the timeline for his return to the court remains uncertain.

The Grizzlies’ decision to extend Jackson's contract underscores their commitment to maintaining a competitive roster in the NBA's Western Conference. As they navigate the complexities of free agency and player contracts, the focus now shifts to how they will address coaching decisions and their overall strategy for the upcoming season.

In an environment of increasing player salaries and competitive dynamics, Jackson's new deal represents not only a significant financial commitment from the Grizzlies but also a strong statement of confidence in his abilities as a cornerstone of the franchise. The implications of this extension extend beyond immediate financial considerations, hinting at the broader trends within the NBA regarding player valuation and team building strategies in the evolving landscape of professional basketball.