MEMPHIS, Tenn. — The Memphis Grizzlies took another step towards establishing their franchise foundation, signing Desmond Bane to a five-year, $207 million deal Friday night, according to ESPN's Adrian Wojnarowski.
Bane's signing makes him the first $200 million deal in Grizzlies franchise history and outpaces Ja Morant's $193 million deal last summer.
Bane put up 21.5 points, five rebounds and 4.4 assists in 2023, all career highs. He also shot a career high 48% from the field this season and hit 40% of his three-point attempts for the third year in a row.
Grizzlies General Manager Zach Kleiman made it clear during exit interviews that signing Bane to a long term extension was a priority for the offseason.
"Des is a cornerstone, very significant piece of this group. I think he has an opportunity going forward to really establish himself as a key driver, key leader of this group. I'm excited for the growth that he's shown there and I think he'll have an even bigger opportunity to be a heart and soul of the group kind of guy going forward," Kleiman said.
The Grizzlies have now signed all three of their core players to long term extensions. All-NBA guard Ja Morant signed a 5-year, $193 million extension in the 2022 offseason. Jaren Jackson Jr. signed a 4-year, $105 million extension in 2021. Jackson Jr. was the 2023 NBA Defensive Player of the Year and an All-Star.
Bane has consistently taken on a larger role for the Grizzlies. He became more of a ball-handler in 2023 and finisher around the rim, proving he can do more than just shoot beyond the arc. It earned him the moniker 'Downhill Des.'
Being a part of the long term solution in Memphis was also something Bane said he wanted at the season's end exit interviews.
"I'm super excited hopefully to get something done this summer. A lot of work's went into this for sure, but more importantly, I'm just thankful to be here in Memphis, be a part of the Grizzlies organization and hopefully be able to set up something here for awhile and win a championship while doing it," Bane said.
Bane has proven to be one of the best shooters in the NBA. His 228 made three-pointers in 2021-22 broke a Grizzlies franchise record. 182 NBA players have attempted at least 100 pull-up threes and 100 catch-and-shoot threes in the last three years. Bane is one of just six players to shoot at least 40% in both categories, according to Lev Akabas of Sportico.
Injuries did hinder the Grizzlies star in the 2023 season. He missed 17 games for a fracture of the medial sesamoid bone in his right big toe. Bane had a successful surgery to correct the problem in the offseason.