Memphis Grizzlies sign Ja Morant to record-breaking extension

The Memphis Grizzlies and Ja Morant have agreed to a record-breaking five-year contract extension worth $193 million, according to ESPN’s Adrian Wojnarowski.

The extension is the largest deal in franchise history. Morant earned his first All-Star appearance and was named second-team All-NBA after leading Memphis to a 56-26 record.

While the current value of this new contract is $193 million, the deal could become $231 if Morant makes an All-NBA team next season. The deal surpasses the five-year, $153 million deal that Mike Conley signed with the Grizzlies in 2016.

Morant won the NBA’s Most Improved award after averaging 27.4 points and 6.7 assists. He also won Rookie of the Year in 2019 and led the franchise to playoff appearances the last two seasons.

“Memphis is my home,” Morant tweeted after the news broke.

Morant’s extension won’t kick in until the 2023-24 season. He joins Jaren Jackson Jr. as members of the Grizzlies’ young core who are locked into long-term deals.

The Grizzlies also re-signed backup point guard Tyus Jones to a two-year deal worth $30 million Thursday at the outset of the NBA’s free agency period.

INJURY NEWS:Jaren Jackson Jr. undergoes surgery on right foot, expected to miss 4 to 6 months

TYUS RETURNS:Report: Tyus Jones signs two-year deal to return to Memphis Grizzlies

Contact Damichael Cole at damichael.cole@commercialappeal.com and on Twitter @damichaelc

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