Grizzlies Re-Sign Luke Kennard to One-Year, $11M Contract

The Memphis Grizzlies and free agent guard Luke Kennard agreed to a one-year, $11 million contract, according to multiple reports. Re-signing Kennard for $11 million will put the Grizzlies about $1 million into the luxury tax.

That can be worked around with a smaller move. NBA teams are not required to be under the tax by the start of the season. The last real date to dip under the tax is the trade deadline, according to Spotrac’s Keith Smith.

The Grizzlies declined Kennard’s $14.8 million team option before the June 29 deadline, making him a free agent. His previous deal was the four-year, $64 million extension he signed with the Los Angeles Clippers in December 2020.

ESPN Sources: Free agent G Luke Kennard has agreed on a new one-year, $11 million contract to stay with the Memphis Grizzlies. Kennard’s a career 44 percent 3-point shooter and a key floor spacer for the Western contender. pic.twitter.com/zxXVUPwYbB

— Adrian Wojnarowski (@wojespn) July 31, 2024

Kennard, 28, averaged 11 points, 2.9 rebounds, and 3.5 assists while shooting 45% from 3-point range for the Grizzlies last season. He finished second in 3-point percentage behind Phoenix Suns guard Grayson Allen (46.1%).

The Grizzlies now have 15 players under standard contracts. Memphis recently traded Ziaire Williams in a deal and acquired Mamadi Diakite. NBA rosters must be downsized to 15 players on standard contracts by the start of the regular season.

Memphis Grizzlies guard Luke Kennard has the third best career 3-point shooting percentage in NBA history

Additionally, Kennard has shot 43.9% on 3-pointers for his career, trailing only Steve Kerr (45.4%) and Hubert Davis (44.09%) on the NBA’s all-time list, per the Basketball-Reference database.

Memphis has historically underperformed from beyond the arc. The Grizzlies have not finished in the top 10 for 3-point shooting percentage since the 2006-07 season.

Kennard joined Memphis in a trade deadline deal with the Clippers in 2023 and averaged 25.6 minutes in 39 games last season. The 6-foot-5, 206-pound guard has shot 48% on 3-pointers in 63 career games with the Grizzlies.

Luke Kennard tonight:

🎯 Sets career-high and franchise record with 10 threes
🎯 Becomes 1st player ever with 10+ 3PM on 90%+ FG
🎯 Leads Grizzlies to a playoff-clinching W pic.twitter.com/7WEjWEi926

— NBA (@NBA) March 25, 2023

On March 24, 2023, Kennard made a career-high 10 3s against the Houston Rockets. He finished with 30 points on 10 mid-range baskets and 10-of-11 (90.9%) shooting from downtown.

In Memphis’ 106-102 win over the Brooklyn Nets on March 4, 2024, he recorded a season-high 25 points on 8-of-11 (72.7%) shooting from the field and 6-of-9 (66.7%) from deep.

Kennard was the 12th overall pick of the Detroit Pistons in the 2017 NBA draft out of Duke.