Last week, the Memphis Grizzlies came to a decision regarding the fourth and final year of Luke Kennard's contract and, in the end, opted out of the commitment, making him an unrestricted free agent.
Despite this turn of events, however, based on numerous reports both sides are still open to working on a newly structured, long-term deal that's mutually beneficial.
While this should certainly bring a sense of confidence among Grind City faithful that Memphis and their sharpshooting wing will find a way to reunite ahead of what is hoped to be a redemption campaign in 2024-25, during a recent episode of Locked on Grizzlies, host and beat reporter Damichael Cole provided some insight into this situation that suggests a re-signing might not be a guarantee.
Grizzlies reporter provides insight into Luke Kennard contract situation
With Kennard's $14.8 million option officially off the books for next season, the Grizzlies find themselves boasting a middle-of-the-pack payroll of roughly $158.6 million, which is about $20 million shy of the league's first tax apron level ($178.132 million).
While these figures suggest a signing may as well be a forgone conclusion, they have yet to take into account the financial commitments that Memphis will be making with their incoming rookies, namely lottery-selected center Zach Edey, who will be eligible to sign a four-year, $26.2 million deal.
With the big man added to the books, along with, say, one more signing of their incoming rookies (Jaylen Wells has a strong case for such a turnout), Cole believes that this complicates a hypothetical re-signing of Kennard more than some may realize.
"If they want to bring him back, the number will matter. If you bring him back at $12 million a year, if it's three years, $36 million you still go into the apron. If you bring him back at three years, $30 [million, or] three years, $33 [million], whatever the case may be, that will slightly put them below the apron, and then we'll see what other moves on the margin that are made."Damichael Cole
LUUUUUUUUUUUKE 🔥🔥🔥 pic.twitter.com/pfBnZDOoNo
— Bally Sports: Grizzlies (@GrizzOnBally) January 10, 2024
One of the best long-range shooters of all time, let alone currently in the association, since making his way over the the Grizzlies mid-way through the 2022-23 campaign, he has found himself posting impressive per-game averages of 11.1 points, 3.0 assists, and 3.0 rebounds on 47.5 percent shooting from the floor and 48.3 percent shooting from distance.
With him limited to just 39 games played last season, Memphis finished the year off as the second-worst long-range shooting team in the association, thus suggesting the club could seriously use for his services in 2024-25, a season that, with Ja Morant, Desmond Bane, and Jaren Jackson Jr. all expected to be back in the fold, is hoped to see them once again embark on a deep playoff run.
However, despite these hopes and wishes, Cole is highlighting the fact that a mutual desire to remain together may not be enough on its own to secure Kennard's return to the team.