Feb 5, 2022; Orlando, Florida, USA; Memphis Grizzlies guard Desmond Bane (22) looks to pass against Orlando Magic guard Cole Anthony (50) during the first quarter at Amway Center. Mandatory Credit: Mike Watters-Imagn Images Mike Watters-Imagn Images

New Report on Grizzlies Plans After Jaren Jackson Jr. Contract Extension

Originally posted on Memphis Grizzlies on SI
By Austin Veazey | Last updated Jun 30, 2025 7:05 PM ET

The Memphis Grizzlies have been active at the start of free agency, re-signing Jaren Jackson Jr. on a mammoth five-year contract worth $240 million, re-signing Santi Aldama, and re-signing Cam Spencer. That doesn't even include the Desmond Bane trade that happened a few weeks before the draft.

Bane was traded for a haul of draft picks, as well as Cole Anthony and Kentavious Caldwell-Pope. Caldwell-Pope seems to be staying in Memphis, based on a podcast appearance he did, and wants to help bring a championship to the city.

Mike Watters-Imagn Images

Cole Anthony, however, was more up in the air. Not much was made of what the Grizzlies' plans were for him until free agency started. ESPN's NBA insider Shams Charania reported that the Grizzlies are working with Anthony's agents to find him a new destination.

"The Memphis Grizzlies and Cole Anthony’s reps at Excel Sports are working toward a resolution that allows Memphis to create the necessary cap space to renegotiate and extend Jaren Jackson Jr. while giving Anthony the opportunity to find his next destination, sources tell ESPN."

The Memphis Grizzlies and Cole Anthony’s reps at Excel Sports are working toward a resolution that allows Memphis to create the necessary cap space to renegotiate and extend Jaren Jackson Jr. while giving Anthony the opportunity to find his next destination, sources tell ESPN.
— Shams Charania (@ShamsCharania) June 30, 2025

Whether that means they're looking for a trade or possibly buying out Anthony's contract, with Anthony giving back a little money like Deandre Ayton did with the Portland Trail Blazers, which would help open up some spending for Memphis for the Jaren Jackson max extension.

Anthony had his worst season of his career for the Orlando Magic last year, averaging 9.4 PPG on a career-low minutes per game. But he can still be a secondary playmaker and ball handler, and there are a lot of teams searching for decent point guards. Memphis is one such team, but they're currently rumored to land Cleveland Cavaliers guard Ty Jerome.

This article first appeared on Memphis Grizzlies on SI and was syndicated with permission.

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