Grizzlies Sign Jaren Jackson Jr. to $240M Extension

The Memphis Grizzlies have agreed to a five-year, $240 million maximum contract extension with All-Star forward Jaren Jackson Jr., securing him with the team through at least the 2029-30 season and including a player option for the final year. The contract, negotiated by CAA Basketball, was the franchise's top offseason priority. Jackson averaged 22.2 points, 5.6 rebounds, and 1.5 blocks over 74 games last season, cementing his status as a franchise cornerstone after a career year. The Grizzlies also secured restricted free agent Santi Aldama on a three-year, $52.5 million deal following his career-best season, and re-signed rookie Cam Spencer. These moves follow the trade of Desmond Bane to the Orlando Magic, signaling Memphis’ commitment to building around Jackson and Ja Morant. The front office is now expected to focus on a possible extension for Ja Morant and further roster adjustments.