The Memphis Grizzlies have officially locked in Jaren Jackson Jr. on a massive five-year, $239.9 million contract, the team announced Sunday. The deal keeps the two-time All-Star and 2023 NBA Defensive Player of the Year with Memphis through the 2029-30 season.
The contract was finalized after Memphis reached a buyout agreement with Cole Anthony, clearing the necessary cap space. Jackson will earn $33 million in 2025-26, after a renegotiation of the final year of his current deal, and his extension begins in 2026-27, starting at $46.2 million.
Jackson averaged 22.2 points and 5.6 rebounds in 74 games last season and has career averages of 18.5 points and 5.5 rebounds over 407 games with the Grizzlies. He’s a three-time All-Defensive team selection and a foundational piece of Memphis’ core alongside Ja Morant.
The 24-year-old recently underwent surgery for a turf toe injury in his right foot. He’s expected to make a full recovery, though a return timeline will be clearer closer to training camp this fall.
With Jackson and Morant now both on long-term deals, Memphis continues to commit to its homegrown stars as it seeks a return to contention after being swept by the Oklahoma City Thunder in the first round of the 2025 playoffs.
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