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The Memphis Grizzlies and All-Star Jaren Jackson Jr. have agreed to a five-year, $240 million maximum contract extension, sources told ESPN. The deal includes a player option in the final year and adds four years to Jackson's existing contract. This secures the 25-year-old power forward, a key part of the Grizzlies' franchise, in Memphis long-term. The Grizzlies are also finalizing deals with other players, including a three-year, $52.5 million deal with Santi Aldama and a two-year deal with Cam Spencer, after previously trading Desmond Bane to create cap space.

Prepared by Emily Rhodes and reviewed by editorial team.