Jaren Jackson Jr. extended by Memphis for $240 million

The Memphis Grizzlies have finalized their top offseason priority by agreeing with Jaren Jackson Jr. on a five-year contract extension worth $240 million. The deal includes a player option for the final year in 2029-2030, according to ESPN sources.

BREAKING: The Memphis Grizzlies and All-Star Jaren Jackson Jr. are expected to agree on a five-year, $240 million maximum renegotiation-and-extension, sources tell ESPN. Head of CAA Basketball Austin Brown and CAA agent Max Saidman negotiated the new agreement with the Grizzlies. pic.twitter.com/pKkI25cFIp

— Shams Charania (@ShamsCharania) June 30, 2025

This maximum extension adds four additional years to Jackson Jr.’s existing contract, which runs through 2025-2026. Agents Austin Brown and Max Saidman of CAA Basketball negotiated this historic deal for the three-time All-Defensive Team member, securing the future of a key piece in the Memphis organization.

A unique player in NBA history

At 25, Jackson has established himself as one of the league’s best big men through his exceptional performances. Last season, he became the only player in NBA history to record at least 1500 points and 100 blocks, while achieving his fourth consecutive season with minimum 100 three-pointers and 100 blocks – a record for consistency.

His 2024-2025 season statistics demonstrate his versatility: 22.2 points, 5.6 rebounds, 2 assists, 1.5 blocks, and 1.2 steals on average over 74 games. Jackson also led the league with 155 successful floaters, showing the constant evolution of his offensive game since entering the NBA.

Memphis bets on continuity with Morant

Selected fourth overall in the 2018 draft from Michigan State, Jackson has spent his seven NBA seasons exclusively with Memphis. Defensive Player of the Year in 2022-2023 after leading the league in blocks for two consecutive seasons, he now forms a duo under contract with Ja Morant through 2027-2028.

Jackson Jr.’s extension was the Grizzlies’ absolute priority this summer, especially after trading Desmond Bane to Orlando Magic for Kentavious Caldwell-Pope and draft picks. This transaction allows Memphis to maintain the salary flexibility needed to finalize their franchise player’s new contract during the next transaction window.