The Memphis Grizzlies and Jaren Jackson Jr. have agreed to a five-year, $240million contract extension, ESPN reported on Monday.
The deal keeps the All-Star forward under contract through the 2029-30 season, with a player option in the final year.
The move came shortly after the opening of the NBA’s free agency negotiation window.
No moves can be finalised until the start of the league year on July 6.
Jackson made his second All-Star team last season, averaging 22.2 points, 5.6 rebounds and 1.53 blocked shots.
After being selected with the No. 4 overall pick in 2018, Jackson has averaged 18.5 points, 5.5 rebounds and 1.2 assists over 407 career games, all with Memphis.
For the foreseeable future, Jackson will remain paired with fellow franchise cornerstone Ja Morant, who is signed through the 2027-28 season.
This offseason has already been a busy one for Memphis, who underwent a coaching change shortly before the end of last season.
The Grizzlies previously traded Desmond Bane to the Orlando Magic for Kentavious Caldwell-Pope, Cole Anthony and several draft picks.
In order to make room for Jackson’s extension, the Grizzlies are planning to trade Anthony to another team, according to ESPN.
Memphis also agreed to sign Santi Aldama to a three-year, $52.5million extension on Monday.
