BREAKING: The Memphis Grizzlies and All-Star Jaren Jackson Jr. are expected to agree on a five-year, $240 million maximum renegotiation-and-extension, sources tell ESPN. Head of CAA Basketball Austin Brown and CAA agent Max Saidman negotiated the new agreement with the Grizzlies.

Jaren Jackson Jr. and the Memphis Grizzlies have reached an agreement on a contract extension, according to ESPN.

The Memphis Grizzlies have been active at the start of free agency, re-signing Jaren Jackson Jr. on a mammoth five-year contract worth $240 million, re-signing Santi Aldama, and re-signing Cam Spencer. That doesn't even include the Desmond Bane trade that happened a few weeks before the draft.