Jaren Jackson Jr. has officially secured a lucrative $239.9 million contract extension with the Memphis Grizzlies, which extends his tenure with the team for an additional five years. This contract overhaul not only renegotiates the last year of his previous deal but also increases his salary for the upcoming season to $33 million.

Jackson's performance last season solidified his value, with averages of 22.2 points and 5.6 rebounds across 74 games, earning him a spot as a two-time NBA All-Star. As a critical part of the Grizzlies' nucleus alongside Ja Morant, the team aims to build around their core as they head into the next season. Concerns linger regarding Jackson’s recent turf toe surgery, with expectations for him to fully recover before training camp, but his commitment to the franchise is a significant step in Memphis's long-term strategy.