Jaren Jackson Jr., Grizzlies Reportedly Agree to $240M Contract in NBA Free Agency

The Memphis Grizzlies and Jaren Jackson Jr. agreed to a five-year, $240 million maximum contract extension on Monday, per ESPN's Shams Charania.

The deal will be finalized once the Grizzlies open up the necessary cap space.

Jackson could have been eligible for a five-year supermax extension worth $345 million if he made an All-NBA team, but he fell short of that honor.

Over his six-year career, the 25-year-old Jackson has posted 18.5 points, 5.6 rebounds and 1.9 blocks. He led the league in blocks in 2021-22 and 2022-23, earning Defensive Player of the Year honors in the latter season.

In 2023-24, Jackson scored a career-high 22.5 points per game (44.4 percent from the field) with 5.5 boards, 1.6 blocks and 1.2 steals as well. His usage saw a massive jump as the Grizzlies played significantly short-handed all year.

His success continued in 2024-25 with averages of 22.2 points, 5.6 rebounds and 1.5 blocks a night.

It's no surprise the Grizzlies wanted to keep Jackson long-term since he was an integral part of teams that finished second in the Western Conference standings in 2021-22 and 2022-23.

He has a well-established rapport with superstar point guard Ja Morant and is a franchise cornerstone himself, so the contract extension was a formality—especially after Desmond Bane got dealt to the Orlando Magic.