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.
BREAKING: Memphis Grizzlies G Desmond Bane has agreed on a five-year, $207M max contract extension, his agents Jim Tanner, Max Wiepking and Terrence Felder of @_Tandemse tell ESPN. Grizzlies’ cornerstone players — Ja Morant, Jaren Jackson Jr., and Bane — are secured long-term. pic.twitter.com/tFeXZedcst— Adrian Wojnarowski (@wojespn) July 1, 2023
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.
“I’ve always been the underdog. I’ve always had to earn my spot. Going to TCU was huge for me. I knew it was where I could continually work on something I loved and enjoyed.” —Desmond Bane @TCUBasketball @memgrizz @DBane0625 #GoFrogs https://t.co/FF7DctEsVX— TCU Magazine (@TCUMagazine) June 30, 2023
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.