Luke Kennard is set to return to the Memphis Grizzlies on a one-year, $11 million contract, according to ESPN’s Adrian Wojnarowski. The Grizzlies had the option to keep Kennard with a $14.8 million team option this offseason but chose to decline it. By doing so, they managed to bring him back at a slightly reduced price.
Kennard joined the Grizzlies at the 2022 trade deadline and has since become a valuable asset, playing in 63 regular-season games for the team and shooting an impressive 48.3% from beyond the arc. His sharpshooting is crucial for the Grizzlies, who need to maximize spacing around Ja Morant, one of the NBA’s most explosive drivers. Kennard’s injury history made a one-year deal an attractive option for Memphis, as it minimizes long-term risk while retaining a key piece of their rotation.
The new $11 million contract nudges the Grizzlies slightly over the luxury tax threshold. Before this deal, Spotrac estimated that Memphis had just over $10 million in room below the luxury tax line, so Kennard’s re-signing likely puts them just above it. However, luxury taxes aren’t calculated until the end of the season, giving the Grizzlies time to make adjustments and potentially avoid the tax by offloading a smaller salary.
With Luke Kennard back in the fold, the Grizzlies boast one of the deepest rotations in the NBA. The expected starting lineup includes Ja Morant, Desmond Bane, Marcus Smart, Jaren Jackson Jr., and another big man, likely Zach Edey or Brandon Clarke. The remaining big man will lead the bench unit alongside Kennard and emerging talents from last season like GG Jackson and Vince Williams. Additional contributors like John Konchar, Santi Aldama, and Jake LaRavia further bolster Memphis’ depth, making them one of the most formidable teams in the Western Conference for the upcoming season.
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