Jaren Jackson Jr. has officially signed a five-year, $240 million contract extension with the Memphis Grizzlies. The deal includes a player option in the final year (2029–30). It firmly establishes Jackson as a cornerstone of the franchise. The extension also reflects Memphis’s strong commitment to its young core, even as the team navigates financial challenges and roster changes. The Grizzlies are also expected to sign Santi Aldama this NBA Free Agency period.

Jackson, the 2023 Defensive Player of the Year and a two-time All-Star, shared a heartfelt message on social media after the announcement.

He quipped “still feel like I remember moving here yesterday. year 7. I am incredibly thankful for everyone who has impacted my time here. to much more ahead . always been the M.”

“the M will teach you who you are . w love . it’s always grit n grind when we’re out here at all costs,” he also wrote,

These words highlight his deep emotional connection to Memphis and the team that drafted him.

Jackson is coming off a strong season. He averaged 22.2 points, 5.6 rebounds, and 1.5 blocks per game. He shot 48.8% from the field and 37.5% from 3. His offensive growth and defensive consistency have made him one of the NBA’s top two-way players.

However, Jackson did not make the All-NBA team this season. That disqualified him from receiving a full supermax deal, which could have been worth up to $345 million. Memphis had to find a creative path to secure him before he could hit free agency in 2026.

The Jaren Jackson Jr. extension creates new challenges. The Grizzlies are projected to be over $60 million above the salary cap this NBA Free Agency. To finalize the deal and stay competitive, the front office will need to make major roster adjustments.

Still, the message is clear: the Grizzlies are building around Jaren Jackson Jr. For him, this contract marks both a personal milestone and a renewed promise to lead Memphis into a brighter future.

With Jackson, Ja Morant, and a revamped supporting cast ready to take the floor, could this be the season the Grizzlies finally make the leap from promise to powerhouse?