The Memphis Grizzlies did something strange when they traded Desmond Bane on Sunday. Obviously, the deal itself was unusual. Rarely do teams ostensibly planning to contend trade away 27-year-old core players. But a little quirk in its structure stands out as confounding in the context of our expectations for this Memphis offseason.
Before the trade, the Grizzlies were projected to have around $6 million in cap space. After it, they’re down to around $4.5 million. That might seem like a pretty minor difference, but the Grizzlies gave away their 2025 first-round pick at the deadline just to dump Marcus Smart so they could get below the cap. Every dollar matters here because cap space is the key to keeping arguably their best player.
Jaren Jackson Jr. is set to become a free agent in 2026. The Grizzlies would like to avoid that outcome because Luka Dončić and the Los Angeles Lakers are looming as a suitor next summer. In a perfect world, Memphis would just extend him. The problem is that his existing contract is far below market value and standard veteran extension rules only allow a player to get a 40% raise in the first year of a new deal. Hence, the cap space. If Memphis can clear out enough of it, they can renegotiate Jackson’s salary for the 2025-26 season and then give him a bigger extension based on that number. To give Jackson his max in the 2026-27 season and beyond, the Grizzlies need to get to around $14 million in space.
Desmond Bane trade grades: Magic, Grizzlies make fairly even swap as Memphis pulls in impressive return
Jasmyn Wimbish
Now, the Grizzlies have other avenues of clearing space if they need to. Trading John Konchar and his $6.2 million cap figure is an obvious start. But still, it seems a bit strange that Memphis would make any move this offseason that would lower its cap space considering the price it…
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