Caldwell-Pope exercises option, will earn $21.6 million to stay with Grizzlies

Memphis Grizzlies guard Kentavious Caldwell-Pope has decided to exercise his player option for the 2026/2027 season, keeping him with the team for at least one more year. The 33-year-old will earn $21.6 million next season, which will be the final year of his three-year, $66 million contract.

Caldwell-Pope joined the Grizzlies last summer via a trade that sent Desmond Bane to another team. Before that, he played for the Orlando Magic. However, his past season was challenging – in February, he underwent surgery on his right little finger to correct an anatomical issue, forcing him to miss the final 31 regular-season games.

Overall, Caldwell-Pope played 51 games, starting 14. He averaged 8.4 points, 2.5 rebounds, and 2.7 assists in 21.3 minutes per game – his lowest numbers since his rookie NBA season.

The veteran guard was long considered one of the league's top "3-and-D" players, but his three-point shooting percentage has fallen below 35% over the past two seasons, after four consecutive seasons at 39% or higher. Caldwell-Pope has won two NBA championships – with the Los Angeles Lakers in 2020 and the Denver Nuggets in 2023. Memphis hopes his experience will help the team return to contention in the Western Conference.