Desmond Bane Signs Five-Year Max Extension With Grizzlies

JULY 8: The Grizzlies have officially completed Bane’s extension, the team announced in a press release (via Twitter).

JUNE 30: The Grizzlies are signing shooting guard Desmond Bane to a five-season maximum rookie scale extension, agents Jim Tanner, Max Wiepking and Terrence Felder tell Adrian Wojnarowski of ESPN.

While Wojnarowski says the deal will be worth $207MM, that amount is a projection, as the exact sum will be tied into the league’s salary cap.

Based on Woj’s wording in his reports on the new extensions for Bane and Pacers All-Star point guard Tyrese Haliburton, it sounds as if Bane’s deal will likely not include the Rose rule escalator, which would have allowed him to qualify for a starting salary worth up to 30% of the cap.

If that’s the case, Bane’s new deal will feature a starting salary worth 25% of the 2024/25 salary cap when it goes into effect next year.

As Damichael Cole of The Memphis Commercial tweets, Bane’s new agreement will now leapfrog All-Star Memphis point guard Ja Morant‘s contract as the priciest in team history. Morant agreed to his five-year, maximum-salary rookie scale extension exactly one year ago.

Bane has quickly outperformed his selection as the No. 30 pick out of TCU in the 2020 draft. Last season, the 25-year-old averaged a career-high 21.5 PPG on .479/.408/.883 shooting splits. He also chipped in 5.0 RPG, 4.4 APG and 1.0 SPG in his 58 healthy games with Memphis. Thanks to the strong play of Morant, Bane and Defensive Player of the Year Jaren Jackson Jr., the Grizzlies finished with the West’s second seed for the second straight season, this time with a 51-31 record.

Injuries to starting center Steven Adams and reserve big man Brandon Clarke greatly impeded Memphis’ frontcourt during its first-round playoff series against the seventh-seeded Lakers, and the Grizzlies fell in six games.

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