Jackson, who will make a little over $7MM this season, was due to receive $8.93MM in 2020/21 if Memphis had chosen to pick up the option.
Jackson was a huge disappointment in his two seasons with the Suns, who selected him with the No. 4 overall pick in 2017. He averaged 12.3 PPG, 4.5 RPG and 1.9 APG in 156 games with Phoenix. He only started 29 of 79 games last year for one of the league’s worst teams.
He will start this season in the G League after skipping training camp. However, if Jackson can turn his career around, the Grizzlies might still be interested in re-signing him, Herrington adds.