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After getting his team option declined, sharpshooter Luke Kennard is reportedly returning to the Memphis Grizzlies on a one-year, $11 million contract.
Memphis acquired Kennard from the LA Clippers at the 2023 trade deadline to bolster its 3-point shooting. Since then, he has shot a blistering 48.3% from deep through 63 games. This past season, the shooting guard was limited to only 39 games due to a lingering left knee injury. Nevertheless, he finished second in the NBA in 3-point percentage (45.0%).
The Grizzlies declined Kennard's $14.8 million team option for next season on June 29. However, ESPN's Adrian Wojnarowski reported that both sides were eager to negotiate a new deal. That proved to be true, with Wojnarowski reporting the marksman's decision to return to Memphis on a discounted contract on Wednesday.
Per Spotrac's Keith Smith, Luke Kennard's new deal still puts the Grizzlies "about $1 million into the luxury tax." However, that is considered a manageable number for the aspiring title contender.
Memphis is coming off a season in which it finished second-last in the league in 3-point percentage (34.6%). Meanwhile, it hasn't finished higher than 17th in the category since 2019. So, the franchise seemingly couldn't afford to let go of its most efficient long-distance shooter.
Outside of his 3-point percentage, over 39 games, Luke Kennard averaged 11.0 points, 2.9 rebounds, 3.5 assists, 0.5 steals and 2.7 3-pointers per game, shooting 44.8%.
With Luke Kennard re-signing, Grizzlies bolster depth ahead of potential redemption season
In addition to Luke Kennard’s left knee issue, most of Memphis' top players were hindered by injuries this past season, including star point guard Ja Morant (shoulder). As a result, it experienced a significant drop-off.
After finishing second (51-31) in the Western Conference in the 2022-23 season, the Grizzlies fell to 13th (27-55). However, Morant and the rest of their regular starters (Desmond Bane, Marcus Smart and Jaren Jackson Jr.) are projected to return by the start of next season.
Meanwhile, Memphis added center depth by drafting Purdue star Zach Edey at No. 9 in this year's draft. He should compete with big man Brandon Clarke for a starting spot, with the other joining Kennard off the bench.
The Grizzlies also have several other promising young players looking to earn minutes (GG Jackson II, Vince Williams Jr., Santi Aldama and Jake LaRavia). Thus, they enter the 2024-25 campaign poised to be one of the NBA's deepest teams and a potential dark horse contender in the hyper-competitive West.
