NBA Rumors: Luke Kennard, Grizzlies Agree to $11M Contract in Free Agency

Featured Columnist IVJuly 31, 2024

MEMPHIS, TENNESSEE - MARCH 20: Luke Kennard #10 of the Memphis Grizzlies brings the ball up court during the game against the Dallas Mavericks at FedExForum on March 20, 2023 in Memphis, Tennessee. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Justin Ford/Getty Images)

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Veteran guard Luke Kennard is returning to the Memphis Grizzlies after agreeing to a one-year, $11 million contract, according to ESPN's Adrian Wojnarowski.

The Grizzlies declined his $14.8 million option for the 2024-25 season but managed to retain him on slightly more team-friendly terms.

Keith Smith @KeithSmithNBA
Re-signing Luke Kennard for $11M will put the Grizzlies about $1M into the luxury tax. That's easy enough to work around with a smaller move.<br><br>Reminder: teams don't need to be under the tax by the start of the season. The last real date to dip under the tax is the trade deadline.

Kennard was traded to Memphis in February 2023 as part of a three-team swap involving the Los Angeles Clippers and Houston Rockets. He averaged 11.1 points per game while shooting 48.3 percent from three-point range in 63 games with the Grizzlies.

The 6'5" sharpshooter was limited to 39 appearances in 2023-24 thanks in large part to a bone bruise in his left knee. That caused him to miss more than a month of action, and his left knee continued to cause him problems after he returned to the court.

That was the dominant theme for the Grizzlies, who saw pretty much every key player exit the lineup for an extended stretch. Most notably, star guard Ja Morant was on the court for just nine games after having served a 25-game suspension before he needed season-ending shoulder surgery.

Memphis had the second-lowest three-point percentage (34.6) in the league, and the front office hasn't done much to improve its floor spacing this offseason.

Losing Kennard would've exacerbated the problem further, thus making the decision to decline his team option look like a risk. As long as he stays healthy, the Grizzlies will have at least one elite long-range threat to help ease the offensive burden on Ja Morant, Desmond Bane and Jaren Jackson Jr.