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Grizzlies, Desmond Bane agree to a five-year, $207 million max contract extension

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James Foglio
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James Foglio Sports Editor

James is a Basketball Insiders contributor. He earned his bachelor's degree in English and Creative Writing from Southern New Hampshire University. James enjoys watching sports and helping gamblers win money.

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Sports Editor

Updated01 Jul 2023

Memphis Grizzlies, Desmond Bane agree to a five-year, $207 million max contract extension

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.


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.


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.

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