The Memphis Grizzlies and Desmond Bane have agreed to a five-year, $207 million max contract extension, according to his agents Jim Tanner, Max Wiepking, and Terrence Felder of Tandem Sports + Entertainment.
His new contract extension begins in the 2024-25 season. The third-year guard is projected to make $35.6 million in 2024-25, $39.34 million in 2025-26, $41.18 million in 2026-27, $44.02 million in 2027-28, and $46.86 million in 2028-29.
According to a few NBA betting sites, the Memphis Grizzlies hold 11th-shortest odds to win next season’s championship in 2024. Check out which sportsbooks are showing better odds for the Golden State Warriors, Los Angeles Lakers, and Los Angeles Clippers.
BREAKING: Memphis Grizzlies G Desmond Bane has agreed on a five-year, $207M max contract extension, his agents Jim Tanner, Max Wiepking and Terrence Felder of @_Tandemse tell ESPN. Grizzlies’ cornerstone players — Ja Morant, Jaren Jackson Jr., and Bane — are secured long-term. pic.twitter.com/tFeXZedcst
— Adrian Wojnarowski (@wojespn) July 1, 2023
Bane, 25, joins fellow Grizzlies teammates Ja Morant and Jaren Jackson Jr. for secured long-term deals. In 58 starts of the 2022-23 season, Bane averaged career highs of 21.5 points, 5.0 rebounds, 4.4 assists, and 31.7 minutes per game. The TCU product also shot a career-best 47.9% from the floor and 40.8% beyond the arc.
In Memphis’ 134-124 win over the Brooklyn Nets on Oct. 24, the 6-foot-5 guard scored a career-high 38 points in 33 minutes of action. Along with logging one board, seven assists, one steal, and one block, Bane shot 14-of-21 (66.7%) from the field 8-of-11 (72.7%) from 3-point range.
Memphis Grizzlies, Desmond Bane agree to a five-year, $207 million max contract extension; it is the first $200 million deal in franchise history
Following Memphis’ 114-103 victory against the Minnesota Timberwolves on Nov. 11, it was revealed that Bane had suffered a right foot injury. He was then diagnosed with a Grade 2 sprain of his right big toe and would be re-evaluated in 2-3 weeks. Bane went on to miss the next 17 games.
Additionally, in the Grizzlies’ 131-107 win over the Charlotte Hornets on Jan. 4, the Indiana native recorded 19 points and a career-high 11 rebounds in 27 minutes played. He also finished 8-of-16 (50%) shooting from the floor and drained two 3-pointers.
In the first round of the 2023 NBA Playoffs against the Lakers, the guard averaged 23.5 points, 6.0 rebounds, 3.2 assists, and 38.6 minutes per game while shooting 42.2% from the field and 32% from downtown.
For those surprised by a 5-year, $207M contract for Desmond Bane… He’s one of the best shooters in the NBA pic.twitter.com/3yziOUroCr
— Lev Akabas (@LevAkabas) July 1, 2023
Furthermore, in the Grizzlies’ 117-111 overtime loss in Game 4, Bane scored a playoff career-high 36 points in 47 minutes played. Two days later, Bane recorded 33 points, a playoff career-high 10 rebounds, and five assists in a 116-99 victory over L.A. in Game 5.
Last July, Morant signed a five-year, $197.23 million rookie contract extension with the Grizzlies.
