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Grizzlies sign Derrick Rose to a two-year, $6.55 million contract

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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

Updated04 Jul 2023

Memphis Grizzlies sign Derrick Rose to a two-year, $6.55 million contract

The Memphis Grizzlies have signed former New York Knicks guard Derrick Rose to a two-year, $6.55 million contract, per sources. Rose, 34, was selected first overall by the Chicago Bulls in the 2008 NBA Draft out of the University of Memphis.

In the 2007-08 season with the Tigers, the guard averaged 14.9 points, 4.5 rebounds, and 4.7 assists per game in 40 NCAA appearances. Rose was recruited by then-Missouri head coach John Calipari, who has served as Kentucky’s coach since 2009.

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Derrick Rose signed a three-year, $43.56 million deal with New York in August 2021. The Knicks declined his $15.6 million club option last month for the 2023-24 season, making him a free agent. Through 15 years in the NBA, Rose has made approximately $162.92 million in career earnings.

In his two-year deal with the Grizzlies, Rose is estimated to earn $3,196,448 in 2023-24 and $3,356,271 in 2024-25. As part of a trade restriction, he cannot be traded until Dec. 15, 2023.

The 6-foot-3 guard made 27 appearances off the bench with the Knicks in the 2022-23 season. He averaged 5.6 points, 1.5 rebounds, 1.7 assists, and 12.5 minutes per game. The 14-year veteran also shot 38.4% from the floor and 30.2% beyond the arc.

Memphis Grizzlies sign Derrick Rose to a two-year, $6.55 million contract; the three-time All-Star returns to Bluff City for the first time since playing for the University of Memphis

Additionally, Derrick Rose scored a season-high 13 points in the Knicks’ 130-106 win over the Detroit Pistons on Oct. 21 and in a 106-103 victory against the Denver Nuggets on Nov. 16. The three-time All-Star shot 4-of-6 (66.7%) from the field and 3-of-4 (75%) from 3-point range vs. Detroit.

Although the Chicago native fell out of the rotation under Knicks head coach Tom Thibodeau, Rose still played an important role in maintaining a healthy locker-room culture. “Derrick has been great for us. He’s a veteran leader,” Thibodeau said during the 2023 NBA Playoffs.

“He’s always embraced every role that he has had whether he was the MVP at 22, a role player or coming back from injury. He will help in any way that he can. He has been extremely helpful to all our young players. I’m really proud of him. … He’s had, in my opinion, a Hall of Fame career. But he is a Hall of Fame guy as well.”


But how did Rose help the Knicks from the bench? “Coming in early. Being on time for everything,” Rose said. “Keeping my routine, the same after 67 games when I’m not playing but two or three minutes. Talking to the young guys. Being vocal. I’m fully invested in everything to be here. And if I [wasn’t], I wouldn’t be on the team.”

Under Grizzlies head coach Taylor Jenkins, the team went 51-31 and finished second in the Western Conference standings this past regular season. However, Memphis lost in six games against the Lakers during the first round of the 2023 NBA Playoffs.

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