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REPORT: Desmond Bane agrees to five-year, $207 million contract with Memphis Grizzlies

The former Horned Frog will receive a max contract and remain with the franchise that drafted him.

NBA: Playoffs-Los Angeles Lakers at Memphis Grizzlies Petre Thomas-USA TODAY Sports

NBA Free Agency tipped off on Friday evening, with several notable players agreeing to new contracts as well as contract extensions. One of those players was former TCU standout Desmond Bane, who according to multiple reports has agreed to a five-year, $207 million maximum contract extension with the Memphis Grizzlies. It’s the wealthiest contact for a Horned Frog basketball player ever and one of the largest deals reportedly agreed to in this free-agent signing period. Bane has enjoyed a tremendous start to his career, averaging 21.5 points as well as 5.0 rebounds and 4.7 assists during the 2022-23 season.

Bane has become a sharpshooter for the Grizzlies as well as one of the elite shooters in the league, averaging 46.9 percent from the field, 42.5 percent from 3-point range and 88.5 percent from the free-throw line over his three-year NBA career. Bane also becomes the first player in Grizzlies history to agree to a contract valued at over $200 million. The 25-year-old will continue to be part of a young nucleus that includes forward Jaren Jackson Jr. and point guard Ja Morant, who has been suspended 25 games for conduct detrimental to the league. Bane was selected with the 30th overall pick in the first round of the 2020 NBA Draft.

Bane’s scoring average has improved significantly over each of his first three seasons in the league. Primarily a three-and-D role player during his rookie season, Bane’s role has grown over the last two seasons, with the former TCU star developing his all-around game and becoming more of a go-to scorer on the offensive end. With Bane on the roster, Memphis has reached the playoffs over each of the last three seasons, advancing to the Western Conference Semifinals during the 2021-22 campaign. The Grizzlies earned the No. 2 seed in the playoffs this season, falling to the No. 7 seeded Los Angeles Lakers in the first round.