On Sunday, the Memphis Grizzlies officially announced Jaren Jackson Jr.’s signing of a $239.9 million contract, which would keep him under contract for the next five seasons.
The transaction was made official the day before, when the team signed a buyout agreement with guard Cole Anthony to make the transfer.
With a $33 million salary increase for the upcoming season thanks to renegotiation of his existing deal’s last year, Jackson is now under contract through 2029–30. Starting in 2026–27, the extension’s pay of $46.2 million will be in effect.
The Grizzlies had to clear the necessary space to make the trade happen before Jackson could sign the contract, even though the sides reached the agreement two weeks earlier.
He was named to the All-Star team for the second time in his Memphis career after averaging 22.2 points and 5.6 rebounds in 74 games last season.
Throughout his 407-game career with Memphis, Jackson—who was named to the All-Defensive team three times and the 2023 NBA defensive player of the year—added 18.5 points and 5.5 rebounds per game on average.
The Grizzlies have not said how long Jackson will be out for to begin the season, but he underwent surgery earlier this month to repair a turf toe ailment.
He is expected to be re-evaluated sometime in the autumn, perhaps around training camp. According to the team, he hurt his right foot while practicing basketball in the offseason, but he should be OK.
As part of their strategy to keep constructing around Jackson and Ja Morant, their star point guard, Memphis has decided to lock him up. Defending champion Oklahoma City swept Memphis in April’s first-round playoff match.
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