The Memphis Grizzlies agreed to a five-year max extension with star guard Desmond Bane on Friday, signing the sharpshooter to a $207 million max contract. 

Bane’s new deal becomes the largest in franchise history, surpassing Ja Morant’s five-year, $197 million extension signed last offseason. 

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Bane averaged 21.5 points, 5.0 rebounds and 4.4 assists last season for the Grizzlies while playing with a toe injury. The guard underwent a procedure to address a fracture of the medial sesamoid bone in his right big toe this summer and is expected to make a full recovery ahead of the upcoming season. 

“Um, and yeah, I mean, whatever I’m allowed to say about our interest and our intentions to extend Des, I’ll say that,” Grizzlies general manager Zach Kleiman said ahead of negotiations in May. “Des is a huge part of this moving forward.”

Bane seemed particularly determined to get a deal worked out to stay in Memphis, too. 

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“I am super excited to hopefully get something done this summer,” Bane said at the end of the season. “A lot of work has gone into this, but more importantly, I’m thankful to be here in Memphis and be part of the Grizzlies organization. Hopefully, we will be able to set up something here for a while and win a championship while doing it.”

The new deal will keep Memphis’ core of Bane, Ja Morant and Jaren Jackson Jr. together for at least two more seasons. Jackson inked a four-year, $105 million extension in October of 2021. Morant’s extension will kick in next season, and Bane’s beginning in 2024-25. 

Bane is a career 42.5% 3-point shooter who has averaged more than 18 points per game in the playoffs as a starter.