The day after making the NBA All-Defensive second team, Grizzlies forward Jaren Jackson Jr. fell short of making an All-NBA team by 13 total points in the final vote tally. He was second behind Houston Rockets center Alperen Sengun for players who fell just short of making the All-NBA third team.
Due to this reality, Jackson Jr. will not be eligible to sign a five-year, $345 million super max contract with the Memphis Grizzlies. Furthermore, the Grizzlies can only offer him a four-year veteran extension this offseason, valued at $146.8 million total.
A nearly $200 million difference in what he could've been extended this offseason in such a close race to make an All-NBA team is brutal for Jackson Jr. However, the Grizzlies can sign him to a different contract this summer to avoid him making it to unrestricted free agency next summer, but it might come at a cost.
Renegotiating Jaren Jackson Jr.'s deal will effect the Grizzlies' salary cap room
Jaren Jackson Jr. can agree to a renegotiation of his current $23.4 million expiring contract to a four-year deal worth $190 million. The Grizzlies could've had access to a $14.1M non-taxpayer mid-level exception to sign a free agent if Jaren signed either a qualified super max contract or the nearly $147 million extension he is eligible for now. This was due to his pending extension not kicking in until next season.
However, with him unlikely to sign that extension, if he agrees to the renegotiation and extension, the Grizzlies will only have access to a $8.8 million mid-level exception. This option would be best for the team so they can avoid him reaching free agency next summer.
Assuming they can retain Jackson Jr. on the renegotiation and extension, the Grizzlies will have to be creative to upgrade their roster this offseason as a team over the salary cap. Everything that has transpired might be in the Grizzlies' best interest because signing Jackson Jr. to a super max would have hampered the team in future seasons.
Jaren Jackson Jr. has struggled in the playoffs due to his lack of rebounding and struggles creating consistent offense against double teams. His career playoff average of 15.7 points, including only 16 points in their four-game series against the Oklahoma City Thunder this season, would've had the Grizzlies hard pressed to offer the full super max if he were eligible.
The outcome of his not being eligible is the reality now, and Jackson Jr. is an integral part of the team's future. Securing a deal with him this offseason has to be the Grizzlies' highest priority heading into this offseason.