Cole Anthony, whose previous cap hit had been $13.1MM, gave up exactly $2MM as part of his buyout agreement with the Grizzlies, tweets Keith Smith of Spotrac. Memphis subsequently used the stretch provision to spread the $11.1MM still owed to Anthony across three seasons, resulting in annual cap hits of $3.7MM through 2027/28.
The move reduced Anthony’s 2025/26 cap charge by $9.4MM, generating the cap room necessary to renegotiate Jaren Jackson Jr.‘s ’25/26 salary from roughly $23.4MM up to $35MM, as Yossi Gozlan of The Third Apron tweets. That allowed the Grizzlies to give Jackson a $49MM salary (ie. a 40% raise) in the first year of his new extension, which increases to $50.5MM in 2027/28 and $52MM in ’28/29, with a $53.5MM player option for ’29/30.
Jackson is now owed exactly $240MM over the next five seasons, having received approximately $216.6MM in new money in his agreement with Memphis.
Here are a few more details on contracts from around the NBA:
- Chet Holmgren‘s new five-year, maximum-salary rookie scale extension with the Thunder doesn’t include Rose Rule language, but Jalen Williams‘ five-year max extension does, per ESPN’s Bobby Marks at Sports Business Classroom. According to Marks, Williams’ deal will start at 30% of the 2026/27 salary cap if he wins MVP, is named Defensive Player of the Year, or makes the All-NBA first team next season. If he makes the All-NBA second team, it would start at 27% of the cap, while a spot on the All-NBA third team would result in a starting salary at 26%. No All-NBA berth, MVP, or DPOY for Williams would result in a salary worth 25% of next year’s cap, matching Holmgren’s deal.
- As expected, the terms of Daniel Gafford‘s new three-year veteran extension with the Mavericks are the maximum the team could have given the big man while maintaining his trade eligibility, tweets Marc Stein. Gafford got a 20% raise for 2026/27 to $17,263,584, with 5% annual raises for the next two seasons. The new three-year contract is worth a total of $54.38MM, on top of the $14.39MM he’ll make in 2025/26.
- Rockets forward Jeff Green, Spurs guard Jordan McLaughlin, and Bucks wing Gary Trent Jr. have joined the list of players who waived their right to veto a trade in 2025/26 when they re-signed with their respective teams, Hoops Rumors has learned. A player who signs a new one-year deal (or two-year deal with a second-year option) with his previous team typically gets trade veto rights for that season, but those can be forfeited as part of the contract agreement.