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.

Jaren Jackson Jr. underwent successful surgery to repair a turf toe injury in his right foot, sustained during an off‑site live basketball drill—just one day after signing a five‑year, $240 million extension with Memphis. The Grizzlies anticipate a full recovery and expect to re‑evaluate him in roughly 12 weeks.