Sources - Grizzlies to extend Jaren Jackson Jr. on $240M deal - ESPN

The Memphis Grizzlies and All-Star Jaren Jackson Jr. are expected to agree to a five-year, $240 million maximum renegotiation-and-extension, with a player option in the final year of the deal in 2029-30, sources told ESPN on Monday.

The new contract adds four years to the existing 2025-26 season on Jackson's deal. The co-head of CAA Basketball, Austin Brown, and CAA agent Max Saidman have been negotiating the new agreement with the Grizzlies for the three-time All-Defensive Team member, securing a massive new deal to keep a cornerstone of the franchise in Memphis long term.

Jackson's extension was the main focus for the Grizzlies this offseason. The 25-year-old, who is one of the best big men in the NBA after becoming the only player to record 1,500 points and 100 blocks last season, is a leader for the Grizzlies. Jackson recorded his fourth straight season with at least 100 made 3-pointers and 100 blocks, the longest streak in NBA history. He is also one of two players to defend guards, forwards and centers for at least 900 half-court matchups last season, along with Cleveland's Evan Mobley.

Jackson averaged 22.2 points, 5.6 rebounds, 2 assists, 1.5 blocks and 1.2 steals over 74 games last season. The No. 4 pick in the 2018 NBA draft out of Michigan State, Jackson has improved his offensive game each season. In 2024-25, he made the most floaters of any player in the league (155).

Jackson has spent his first seven NBA seasons with the Grizzlies.

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The move will be executed during the upcoming transaction window