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The Memphis Grizzlies are staying active during the NBA free agency period as they look to balance cap space and talent retention. A new report suggests Cole Anthony may be on his way out as Memphis restructures financially to lock in a long-term deal for Jaren Jackson Jr.
As reported by Shams Charania on X (formerly known as Twitter) the Grizzlies and Anthony’s representatives at Excel Sports are “working toward a resolution” that allows the team to clear the necessary space for Jackson’s extension.
“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,” Charania wrote.
Anthony, who was acquired in the Desmond Bane trade, may not stay long in Memphis. His $12.9 million salary would be a key piece in freeing up funds to complete the expected deal with Jackson Jr., who remains central to the team’s future.
Meanwhile, the Grizzlies made another roster move by rewarding Cam Spencer with a two-year, $4.5 million fully guaranteed deal. Spencer impressed during his two-way rookie campaign and could fill rotational minutes in the backcourt.
“The Memphis Grizzlies and guard Cam Spencer have agreed to a two-year, $4.5 million fully guaranteed contract,” Charania added.
The NBA free agency window is still young, but Memphis has already made it clear that its priority is maintaining core stability around Jackson while building out a more flexible and cost-efficient supporting cast.
In addition to Spencer, the Grizzlies also extended Santi Aldama on a three-year, $52.5 million deal. The versatile forward has developed into a key rotation piece and his new contract reflects Memphis’ confidence in his continued growth.
The decision to potentially part ways with the former Orlando Magic guard highlights how committed the Grizzlies are to making room under the salary cap. Retaining defensive anchor JJJ on a long-term deal signals their continued investment in internal talent and leadership.
While an Anthony departure would close one chapter, Spencer’s signing and Aldama’s extension suggest the Grizzlies are confident in their next wave of contributors.
