When the Memphis Grizzlies traded Desmond Bane to the Orlando Magic prior to the 2025 NBA Draft, some wondered if it might mean they are open to listening to calls on some of their other stars. That talk quickly got shut down by reports they were focusing their efforts this summer on clearing enough space to re-sign Jaren Jackson Jr. to a massive new contract extension.
That new deal was the first reported agreement of the new league year, as Shams Charania reported the two sides were finalizing a five-year, $240 million max extension, with a player option in the final year (2029-30). Jackson was slated to enter unrestricted free agency next summer without a new deal.
Jackson Jr. was the 2023 Defensive Player of the Year and had a career year in 2024-25, averaging 22.2 points, 5.6 rebounds, 1.5 blocks and 1.2 steals per game on 48.8/37.5/78.1 shooting splits in 74 games played. That earned him All-Star honors for the first time in his career and made him an unquestioned foundational piece for the Grizzlies, who made him their leading priority this summer.
The Grizzlies weren’t done after re-signing Jackson Jr., as they also agreed to a new three-year, $52.5 million deal to keep restricted free agent Santi Aldama in Memphis, per Charania. Aldama was expected to garner interest from the Pistons and other teams if the Grizzlies weren’t willing to offer him the kind of deal he wanted, but Memphis quickly locked him down to maintain their frontcourt depth around Jackson Jr. and Zach Edey.
Aldama had the best season of his career last year as well, averaging 12.5 points and 6.4 rebounds per game on 48.3/36.8/69.1 shooting splits. The Grizzlies also worked out a new two-year, $4.5 million contract with Cam Spencer, per Charania, after his strong play as a rookie on a two-way deal last season. With those deals done, Memphis can shift its attention to outside free agents and further trade possibilities.
Jackson Jr.’s deal won’t be officially signed until later this summer, as the Grizzlies still have some cap maneuvering to do in order to clear enough space for it. That doesn’t have to be by way of a trade, but they figure to remain active in the coming weeks in exploring their options to clear a bit more money while also building a competitive roster.
According to Charania, the Grizzlies are discussing options with Cole Anthony about a “resolution” that will allow Memphis to create the space needed for Jackson Jr. It’s not clear if that will be by way of a trade or a buyout, but Anthony does not figure to play a single minute in a Grizzlies uniform after he arrived as part of the Bane trade earlier in June.
