The Memphis Grizzlies have moved swiftly and purposefully this offseason, with the team re-signing the two-time All-Star and former Defensive Player of the Year Jaren Jackson Jr. to a $240 million deal. The Grizzlies agreed to a five-year maximum renegotiation-and-extension with the forward, which will see Jackson Jr. remain on the roster through the 2028-29 season, with the player holding an option for the 2029-30 season.
This was a major coup for the Grizzlies, who, after trading guard Desmond Bane to the Orlando Magic on June 15 to clear up some cap space, managed to secure one of the team’s key pieces from last season to a long-term deal.
NBA Insider Confirms All-Star Forward Jaren Jackson Jr. Will Return to Memphis on Long-term Deal
Jackson Jr. is preparing for his eighth year in the league, and the 25-year-old only seems to be getting better with age.
The Grizzlies may have stumbled towards the final stage of the 2024-25 campaign, but a big reason for their subpar season could be blamed on injuries and a young roster that was still finding its footing. With Jackson Jr. now locked up to a five-year deal, along with Ja Morant, who is contracted through the 2027-28 season, the Grizzlies have a solid foundation to build around.
With the free agency negotiations officially beginning on Monday evening, a handful of players have reportedly agreed to new deals for the upcoming season. Players are not permitted to sign the contract until July 6, but NBA insider Shams Charania confirmed that the Grizzlies and Jackson Jr. are in agreement on a colossal new contract.
Massive new deal for Jaren Jackson Jr., including a player option in the final year of the contract in 2029-30, sources said. Memphis secures a franchise cornerstone long term, prioritizing the 2023 Defensive Player of the Year’s extension to begin the offseason. https://t.co/KccqYqtEMk
— Shams Charania (@ShamsCharania) June 30, 2025
The new deal offers Jackson Jr. a significant pay bump. Last season, he earned $25,257,798, and that figure will jump to approximately $48 million per season as per the terms of his new deal.
Jackson was one of the NBA’s most effective big men last season. The 6’10” power forward dominated his opponents and was a problem for opposing defenses. Jackson Jr. contributed in all facets of the game. He averaged 22.2 points, 5.6 rebounds, 2.0 assists, 1.2 steals, and 1.5 blocks over 74 games.
The Grizzlies are littered with young talent in all corners of their roster, and Jackson Jr. and Morant provide two sturdy pillars to build around for the future. The West remains extremely competitive, but with two of the game’s most exciting talents returning to Tennessee next season, along with a handful of rising stars, Memphis should be able to stamp its mark on the conference next season.
