Memphis Grizzlies All-NBA guard Ja Morant has agreed to a five-year designated rookie extension likely to be worth $231 million, his agent, Jim Tanner of Tandem/YouFirst Sports, told ESPN.
Morant, who was part of the All-NBA Second Team, is guaranteed $193 million and will trigger supermax escalators to take the deal to $231 million by re-landing on one of the league’s three All-NBA teams.
The deal also includes a 15% trade stimulus, Tanner said.
“Memphis is my home,” Morant wrote on Twitter.
Memphis is my home 💙
— JaMorant (@JaMorant) July 1, 2022
At 22 years old, Morant has established himself as a bona fide superstar, averaging 27.4 points, 5.7 rebounds and 6.7 assists last season.
“Over the last three seasons, Ja has truly emerged as an NBA superstar and must-see television,” Tanner told ESPN. “From Rookie of the Year, NBA All-Star starter, All-NBA Second Team and Most Improved Player, we are incredibly proud of him for his dedication to improving his game and becoming a team leader. The Grizzlies are a perfect fit. for Ja. The organization and the city have embraced it.
“The sky is the limit for Ja both on and off the court, and we look forward to helping him continue to build his legacy in the league.”
The Grizzlies tied a franchise record with 56 wins and advanced to the second round of the Western Conference playoffs last season.
Morant won the NBA Most Improved Player award and made the All-Star team for the first time. Along the way, he established himself as one of the most electrifying players in the league, and one of its best young talents, thanks to a string of standout plays on the floor and an equally outsized personality off it.
That combination has made Morant one of the young faces in the NBA, and has helped make the Grizzlies one of the most exciting up-and-coming teams in the league, with a wide variety of young talent around him, including the great Jaren Jackson man. Jr. and guard Desmond Bane. They locked up another player Thursday night, agreeing to a two-year, $30 million deal with free-agent guard Tyus Jones.
Despite playing in one of the league’s smallest markets, Morant has become one of the league’s top sponsors, including national commercial campaigns with Sony/Spiderman and Hulu and marketing deals with Nike, Beats by Dre and Panini, among others.
After finishing second in the Western Conference this season behind the Phoenix Suns, Memphis beat the Minnesota Timberwolves in six close games in a first-round playoff series victory, their first series victory since 2015, before lose to the Golden State Warriors. in six games in the Western Conference semifinals.
Morant, who scored a combined 115 points in the first three games of the Golden State series, including 47 playoff points in a Game 2 victory, missed the last three games against the Warriors with a knee injury.
Murray State’s second overall pick in the 2019 NBA draft, Morant was the 2020 NBA Rookie of the Year. He immediately made his mark on the franchise and quickly transitioned the Grizzlies from the “Grit ‘n ‘Grind’. of Mike Conley and Marc Gasol in this young, fast-paced and dynamic new team under coach Taylor Jenkins.
That included Morant going toe-to-toe with Damian Lillard inside the NBA bubble at Walt Disney World Resorts in Orlando, Fla., as a rookie in the league’s first entry-level tournament game, then turning around and eliminating the Favourite. Warriors in San Francisco in 2021 in the play-in tournament to advance to the postseason for the first time in his career.
ESPN NBA reporter Tim Bontemps contributed to this report.