Grizzlies Re-Sign Cam Spencer to Four-Year, $10.5M Contract

The Memphis Grizzlies have re-signed guard Cam Spencer to a four-year, $10.5 million contract, Mark Bartelstein and Ross Aroyo of Priority Sports informed ESPN’s Shams Charania on Monday.

Grizzlies, Cam Spencer Agree To Restructured Deal

Spencer previously agreed to a two-year, $4.5 million deal last month, but the Grizzlies were able to restructure it after recent offseason moves. The deal will now include three fully guaranteed years.

The fourth year is reportedly a team option, according to HoopsHype’s Michael Scotto.

When the Grizzlies initially agreed to the minimum-salary contract with Spencer, they weren’t sure whether or not they’d have to renounce his rights in order to accommodate Jaren Jackson’s renegotiated deal.

Earlier this month, Jackson suffered a turf toe injury in his right foot that will require surgery. The 6-foot-10 big man sustained the injury during an off-site open basketball session.

Jackson is expected to make a full recovery.

Spencer Saw Limited Playing Time With Memphis

Spencer, 25, was acquired by the Grizzlies from the Detroit Pistons in the 53rd overall pick of the 2024 NBA draft out of UConn. The Maryland native guided the Huskies to the 2024 NCAA championship.

The 6-foot-3, 201-pound Spencer appeared in 25 games (one start) as a rookie for Memphis last season and averaged 4.2 points, 1.2 rebounds, 1.4 assists, and 10.1 minutes per contest.

Spencer set career highs with 23 points and seven assists in 37 minutes in his lone start on April 13 against the Dallas Mavericks. He also started eight NBA G League games for the Memphis Hustle during the Tip-Off Tournament and regular season.

With the Hustle, Spencer averaged 23.5 points, 3.6 rebounds, 3.5 assists, 1.1 steals, and 32.2 minutes per contest while shooting 53.8% from the field, 49.3% from 3-point range, and 76.5% from the free throw line.

He also scored 51 points in a Tip-Off Tournament contest on December 2 versus Birmingham.

Cole Anthony Agreed To Contract Buyout With Grizzlies

This move also comes a day after veteran guard Cole Anthony agreed to a contract buyout with the Grizzlies. He is planning to sign with the Milwaukee Bucks after he clears waivers, per Charania.

Memphis finalized Anthony’s buyout with his representatives, Jeff Schwartz and Javon Phillips of Excel Sports, on Saturday for Anthony. The 25-year-old is expected to ink a one-year deal with the Bucks.

The Grizzlies acquired Anthony, Kentavious Caldwell-Pope, four unprotected first-round picks, and one first-round pick swap in the blockbuster trade that sent Desmond Bane to the Orlando Magic.

Memphis had been working with Anthony’s representatives toward a resolution that would create enough cap space for the Grizzlies to renegotiate and extend Jackson to a new five-year, $240 million maximum deal.