After surprising the NBA by trading Desmond Bane to the Orlando Magic, the Memphis Grizzlies are looking to clear more cap space.
The Grizzlies received guards Kentavious Caldwell-Pope and Cole Anthony, four unprotected first-round picks, and a first-round pick swap in return for Bane.
Shortly after the trade, rumors of Anthony being moved grew due to a crowded point guard rotation. However, his father, Greg Anthony, recently announced the team might buy out the point guard’s contract.
Memphis Grizzlies Looking To Buy Out Cole Anthony
Cole was selected 15th overall by the Magic in the 2020 NBA Draft and has been a solid contributor over his five seasons. However, his scoring dipped below 10 points per game last season, a decline that played a key role in the Magic’s decision to trade him. Now, the Grizzlies appear ready to move on by any means necessary.
“I don’t know that Cole Anthony will be there,” Greg said on Free Agent Fever. “There’s a possibility that he could be bought out. It’s possible. You just never know.”
DAD BOMB ALERT 💣
Cole Anthony could get bought out by the Grizzlies, per his pops! pic.twitter.com/bgMnexavWh
— Oh No He Didn’t (@ohnohedidnt24) June 30, 2025
Shortly after Greg’s revelation, senior ESPN insider Shams Charania confirmed the possibility of a buyout but hasn’t ruled out a trade yet.
“The Memphis Grizzlies and Cole Anthony’s reps at Excel Sports are working toward a resolution that allows Memphis to create the necessary cap space to renegotiate and extend Jaren Jackson Jr. while allowing Anthony to find his next destination, sources tell ESPN,” he wrote on X.
The Memphis Grizzlies and Cole Anthony’s reps at Excel Sports are working toward a resolution that allows Memphis to create the necessary cap space to renegotiate and extend Jaren Jackson Jr. while giving Anthony the opportunity to find his next destination, sources tell ESPN.
— Shams Charania (@ShamsCharania) June 30, 2025
Marc Stein and Jake Fischer of The Stein Line also reported that the Grizzlies were looking for a trade partner to absorb Anthony’s salary, a little over $13 million for the next season.
Cole is entering the final year of his three-year, $39 million contract. Still, given the drop in his production and the Grizzlies’ recent agreement to extend Jaren Jackson Jr., a buyout is a real possibility.
A buyout would make Anthony an unrestricted free agent. While the Grizzlies would still be responsible for his salary on the books, they could save money by negotiating a reduced payout.
Both sides would need to agree on the buyout terms. Cole is unlikely to give up money unless he wants to join another team for more playing time, which does not seem likely based on his father’s recent comments.
