That new deal was the first reported agreement of the new league year, as Shams Charania reported the two sides were finalizing a five-year, $240 million max extension, with a player option in the final year (2029-30). Jackson was slated to enter unrestricted free agency next summer without a new deal.

Memphis Grizzlies star center Jaren Jackson Jr. will stay with the team for the foreseeable future. Jackson is expected to sign a five-year, $240 million maximum renegotiation and extension. ESPN's Shams Charania shared the news via X.

Jaren Jackson Jr. and the Memphis Grizzlies have reached an agreement on a contract extension, according to ESPN.