NBA free agency is a time full of surprises, and the first for the Memphis Grizzlies He arrived on Saturday afternoon. ESPN reported that the Grizzlies were declines the $14.8 million team option on guard Luke Kennard, making him a free agent.
A declined option usually signals the end of a player’s tenure with a team, but there may be a second surprise in Memphis. ESPN also reported that the Grizzlies and Kennard hope to reach a restructured deal, which makes a lot of sense in this unique situation.
Kennard is one of the best shooters in the NBA. He joined the Grizzlies shortly before the trade deadline in February 2023 and made an impressive 54% of his three-pointers. Last season he played only 39 games, but still made 45% of his three-pointers.
He The free agency negotiation period opens at 5 p.m.Shooting is one of the most coveted skills in the NBA, so there will surely be a market for Kennard.
Could that market bring him back to Memphis?
Luke Kennard’s mood in Memphis
Kennard’s shooting ability in Memphis is valued. The Grizzlies have attempted in recent drafts to add quality shooters to surround their talented core of stars. The Kennard trade has given Memphis instant offense off the bench and helped teammates find easier spaces. As is evident writing by Jake LaRavia, David Roddy, Vince Williams Jr., GG Jackson and Jaylen Wells, Memphis wants bigger wings who can fit alongside Ja Morant and Desmond Bane.
Kennard’s natural position is shooting guard, which may limit the amount of minutes he gets in Memphis. Not only because Kennard and Bane play the same position, but Grizzlies coach Taylor Jenkins also likes to surround Morant with excellent defenders against Western Conference teams loaded with elite talent. For example, Jenkins faced questions in the Grizzlies’ first-round series loss to the Los Angeles Lakers in 2023 after Kennard sat on the bench during key stretches of two road losses. Lakers star LeBron James looked for mismatches with Morant, so Jenkins opted for his best defenders in the other four spots.
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Memphis Grizzlies Free Agency Financial Outlook
In simple terms, Kennard’s role in Memphis is a high price to pay: $14.8 million. Especially when you consider the series of decisions that come from the idea of choosing the team option.
Exercising Kennard’s option would have put the Grizzlies in the luxury tax and in first place, limiting their financial flexibility for the offseason. The Grizzlies would essentially be bargain hunting in free agency.
That’s why there could be a path to a return. An ideal scenario for Memphis would be to bring Kennard back at a lower salary that helps the team avoid the first cut. Kennard could win by securing a contract with more guaranteed years attached than the season he would have had on the team option.
Memphis is playing dangerous games by allowing other teams to get involved in negotiations with Kennard, but the risk would be worth it if the two sides come together on a reworked deal.
Damichael Cole is the Memphis Grizzlies beat writer for The Commercial Appeal. Contact Damichael at damichael.cole@commercialappeal.comFollow Damichael on X, formerly known as Twitter, @DamichaelC.