1:00pm: Spencer has officially signed his new four-year contract, the Grizzlies announced this afternoon (via Twitter).
11:48am: After initially agreeing to a two-year, minimum-salary contract when free agency opened on June 30, the Grizzlies and Cam Spencer have since amended the terms of that agreement, agents Mark Bartelstein and Ross Aroyo tell Shams Charania of ESPN (Twitter link).
According to Charania, Spencer will now be signing a four-year, $10.5MM contract that includes three fully guaranteed seasons. The fourth year will be a team option, tweets Michael Scotto of HoopsHype.
The 53rd pick of the 2024 draft after winning a national championship with UConn, Spencer appeared in 25 games with the Grizzlies last season, averaging 4.2 points, 1.2 rebounds and 1.4 assists in 10.1 minutes per contest. His shooting line was .415/.365/1.000.
The 25-year-old combo guard had a much bigger role in his eight G League appearances (32.2 MPG) with the Memphis Hustle in ’24/25, averaging 23.5 PPG, 3.6 RPG, 3.5 APG and 1.2 SPG on .538/.493/.765 shooting.
When the Grizzlies initially agreed to a two-year, minimum-salary deal with Spencer, they likely didn’t know whether or not they’d have to renounce his rights in order to accommodate Jaren Jackson‘s renegotiated contract.
It appears Memphis was able to hang onto Spencer’s Non-Bird rights while maintaining enough cap room for Jackson’s new deal, which will allow the club to go beyond two years and a little above the minimum for Spencer.
As we wrote earlier today, Spencer’s deal with the Grizzlies is one of four reported signings that will likely be officially completed now that Jackson’s renegotiation and extension is complete.
Good for Cam! Before his title year at UConn, he had an impressive season beyond the arc at RU.