Memphis Grizzlies Cap Sheet 2026-27

The Memphis Grizzlies have $161,792,655 in displayed 2026-27 team salary, including $21,909,021 of dead money, which is $3,168,345 under the salary cap, with 19 standard contracts and 2 two-way contracts on the books. The Grizzlies are $38,635,345 under the luxury tax level, $47,222,345 under the first apron and $59,893,345 under the second apron. Capsheets.com lists the Grizzlies as hard-capped at the first apron for 2026-27.

Snapshot as of . Page data last updated . Distances to the tax and aprons compare displayed contracts with the league levels and are approximations; see the questions below.

Sources: contracts from a Spotrac-derived workbook (Spotrac multi-year cap table, retrieved ) with this site’s audited corrections; dead money from Spotrac (); exception balances (), hard-cap labels () and draft picks () from Capsheets.com; 2026-27 cap, tax and apron levels from the official NBA release. Later seasons are projections.

Cap, tax and apron position

Memphis Grizzlies cap position, 2026-27
LineAmountDisplayed salary against it
Displayed team salary$161,792,655Signed contracts, options and dead money; free-agent cap holds excluded
Salary cap$164,961,000$3,168,345 under the salary cap
Luxury tax level$200,428,000$38,635,345 under the luxury tax level
First apron$209,015,000$47,222,345 under the first apron
Second apron$221,686,000$59,893,345 under the second apron
Dead money included$21,909,021Part of displayed team salary
Contracts19 standard2 two-way; 0 free-agent cap holds not counted above

Player contracts

Memphis Grizzlies player contracts, 2026-27 through 2029-30
PlayerPos.Age2026-27 cap hit% of capOptionGuarantee noteExtension-eligible2027-282028-292029-30
Jerami GrantPF32$34,206,89820.7%No option—Marked eligible$36,413,790Player option——
Isaiah StewartC25.7$15,000,0009.1%No option—Marked eligible$15,000,000Team option——
Cameron BoozerPF19$11,849,7607.2%No option——$12,441,840$13,034,880Team option; $0 guaranteed$16,476,089$0 guaranteed
Ty JeromeSG29.6$9,220,0505.6%No option——$9,659,100Player option——
Quinten PostC26$9,000,0005.5%No option——$8,550,000Non-guaranteed; $0 guaranteed$8,550,000Team option; $0 guaranteed—
Taylor HendricksPF23.2$7,805,9004.7%No option—Marked eligible———
Jordan HawkinsSG24.8$7,021,8954.3%No option—Marked eligible———
Zach EdeyC24.7$6,332,7603.8%No option$0 guaranteed—$8,067,937Team option; $0 guaranteed——
Cedric CowardSG23.4$6,001,0803.6%No option——$6,286,920Team option; $0 guaranteed$8,342,743Team option; $0 guaranteed—
D'Angelo RussellPG30.9$5,969,2503.6%No option—————
Kris MurrayPF26.5$5,315,0043.2%No option—Marked eligible———
Walter Clayton Jr.PG23.9$4,190,5202.5%No option——$4,390,320Team option; $0 guaranteed$6,752,312Team option; $0 guaranteed—
Karim LopezPF19.8$3,746,7602.3%No option——$3,934,200$4,121,760Team option; $0 guaranteed$6,565,964Team option; $0 guaranteed
Olivier-Maxence ProsperPF24.6$2,497,8121.5%No option—————
Scotty Pippen Jr.PG26$2,461,4621.5%No option——$2,789,215Team option; $0 guaranteed——
Cam SpencerSG26$2,411,0901.5%No option——$2,616,754$2,830,685Team option; $0 guaranteed—
G.G. JacksonPF22$2,406,2051.5%No option—Marked eligible———
Jaylen WellsSG23$2,296,2711.4%No option$300,000 guaranteedMarked eligible$2,486,995Team option; $0 guaranteed——
Micah PeavySG25$2,150,9171.3%No option——$2,525,901$0 guaranteed$2,735,698Team option; $0 guaranteed—
Jahmai MashackF24$00.0%Two-way—————
Javon SmallG24$00.0%Two-way$85,300 guaranteed————
Player contracts total$139,883,63484.8%$115,162,972$46,368,078$23,042,053

Source: Spotrac-derived workbook, retrieved . Ages are as of February 1 of the season. “Guarantee note” repeats the source’s wording and is blank where the source gives none. Two-way contracts are listed without a cap hit.

Dead money

$21,909,021 of the displayed 2026-27 team salary is dead money: salary still charged for players who were waived or bought out.

Memphis Grizzlies dead-money charges
PlayerHow2026-272027-28
Kentavious Caldwell-PopeWaive via Buyout$17,744,971—
Cole AnthonyWaive via Buyout$3,700,000$3,700,000
Mamadi DiakiteWaived$464,050—
Dead money total$21,909,021$3,700,000

Source: Spotrac team cap tables, retrieved .

Exceptions: balances and expiry

Memphis Grizzlies exception inventory, 2026-27
ExceptionTypeRemaining balanceExpires
Non-taxpayer Mid-LevelSigning exception$4,694,000
Bi-AnnualSigning exception$5,477,000
TPE (Jaren Jackson Jr.)Trade exception$28,872,920
TPE (Ja Morant)Trade exception$2,163,172

Source: Capsheets.com, retrieved . Source-listed exception balances and expiration dates; website payrolls remain unchanged. Availability is subject to apron and transaction restrictions.

Hard-cap status

Capsheets.com lists the Grizzlies as hard-capped at the first apron for 2026-27. The source page labels its apron rows “First Apron (Hard Capped)”, “Second Apron”.

Source: Capsheets.com, checked . Only the restriction label is taken from that page; the salary and apron figures on this page are this site’s snapshot.

Future draft picks

First round

Second round

Source: CapSheets.com, retrieved ; displayed first- and second-round pick inventories for the next seven drafts. Pick descriptions and tradability are shown as that source words them.

Are the Memphis Grizzlies hard-capped in 2026-27?

Yes, according to Capsheets.com: it lists the Memphis Grizzlies as hard-capped at the first apron for 2026-27 (checked ).

Calculation from this page’s snapshot

The first apron is $209,015,000 and displayed 2026-27 team salary is $161,792,655, so displayed salary is $47,222,345 under the first apron.

This is an approximation. The agreement tests the aprons against “Apron Team Salary”, which is Team Salary after a list of adjustments (Article VII, Section 2(e)(1), p. 186); this page compares the displayed contract total instead.

CBA rule text · the restriction commonly called a hard cap
A Team that engages in a transaction set forth in the Transaction Restrictions Table may not, for the remainder of such Salary Cap Year, have an Apron Team Salary that exceeds the Applicable Apron Level that corresponds with such transaction in the table.

Article VII, Section 2(e)(2)(i)(B), p. 187. Paraphrase (not CBA text): Once a team makes a listed transaction, it cannot exceed that apron for the rest of that cap year. This is what is commonly called being hard-capped.

“Hard cap” is the common name for this restriction; the phrase does not appear in the agreement.

What would change this answer

Under the rule quoted above the restriction lasts for the remainder of the Salary Cap Year, so a trade, waiver or signing changes how much salary sits beneath the first apron, not the restriction itself. The source does not say which transaction triggered the label, and a later transaction listed in the Transaction Restrictions Table (Article VII, Section 2(e)(2)(i)(A), p. 187) could add a restriction that is not shown here.

Flag · source limitation or conflict

Hard-cap label source limitation (checked ): Requested Spotrac source returned an empty HTTP 202 response in direct retrieval and Chromium. Current 2026-27 Capsheets.com team pages explicitly identify hard-capped apron rows; plain apron rows mean no hard cap reported by that source. Only restriction labels were imported; all displayed salary amounts and apron thresholds remain the website snapshot. Restriction triggers are not supplied by these team pages. No prior-season hard caps carry forward.

How far are the Memphis Grizzlies from the first and second apron?

On displayed contracts, the Memphis Grizzlies are $47,222,345 under the first apron and $59,893,345 under the second apron for 2026-27.

Calculation from this page’s snapshot

First apron $209,015,000 against displayed team salary $161,792,655: $47,222,345 under the first apron. Second apron $221,686,000: $59,893,345 under the second apron. Luxury tax level $200,428,000: $38,635,345 under the luxury tax level.

This is an approximation. The agreement tests the aprons against “Apron Team Salary”, which is Team Salary after a list of adjustments (Article VII, Section 2(e)(1), p. 186); this page compares the displayed contract total instead.

The tax is likewise assessed on “Tax Team Salary”, measured at the start of the team’s last regular season game (Article VII, Section 2(d)(1)(i), pp. 179–180), not on a preseason total.

Season amounts: the 2026-27 salary cap, tax level and apron levels shown here are those in the NBA.com release; the agreement itself fixes only the formulas.

CBA rule text · how the first apron is set
For each subsequent Salary Cap Year, the First Apron Level shall equal the First Apron Level for the 2023-24 Salary Cap Year multiplied by a fraction, the numerator of which is the Salary Cap for the applicable Salary Cap Year and the denominator of which is the Salary Cap for the 2023-24 Salary Cap Year.

Article VII, Section 2(a)(4)(iii)(A), p. 171. Paraphrase (not CBA text): After 2023-24 the first apron moves in proportion to the salary cap: the 2023-24 first apron times (this season's cap ÷ the 2023-24 cap).

CBA rule text · how the second apron is set
For each subsequent Salary Cap Year, the Second Apron Level shall equal the Second Apron Level for the 2023-24 Salary Cap Year multiplied by a fraction, the numerator of which is the Salary Cap for the applicable Salary Cap Year and the denominator of which is the Salary Cap for the 2023-24 Salary Cap Year.

Article VII, Section 2(a)(4)(iii)(B), p. 171. Paraphrase (not CBA text): After 2023-24 the second apron moves in proportion to the salary cap: the 2023-24 second apron times (this season's cap ÷ the 2023-24 cap).

What would change this answer

Any trade, waiver claim, signing, exercised or declined option, or buyout after the snapshot date moves the Grizzlies’ displayed salary and therefore both distances. Free-agent cap holds are not part of the displayed total.

Which exceptions can the Memphis Grizzlies still use?

Capsheets.com lists 4 exceptions with a remaining balance for the Memphis Grizzlies: Non-taxpayer Mid-Level ($4,694,000, expiring ), Bi-Annual ($5,477,000, expiring ), TPE (Jaren Jackson Jr.) ($28,872,920, expiring ) and TPE (Ja Morant) ($2,163,172, expiring ). Balances were retrieved .

Reading the list · interpretation

Source note: Source-listed exception balances and expiration dates; website payrolls remain unchanged. Availability is subject to apron and transaction restrictions.

Using the non-taxpayer mid-level exception is a first-apron transaction (Article VII, Section 2(e)(4), row B, p. 190). Using the bi-annual exception is a first-apron transaction (Article VII, Section 2(e)(4), row A, p. 190); its expiry is set by Article VII, Section 6(d)(5), p. 236. “TPE” rows are traded player exceptions; this page reads each expiry date as the one-year window for a non-simultaneous trade (Article VII, Section 6(j)(1)(i), p. 240).

Against the displayed total, the Grizzlies are $47,222,345 under the first apron and $59,893,345 under the second apron; whether a given signing or trade fits is not decided on this page.

CBA rule text · why exceptions matter
A Team’s Team Salary may not exceed the Salary Cap at any time unless the Team is using one of the Exceptions set forth in Section 6 below.

Article VII, Section 2(b)(1), p. 176. Paraphrase (not CBA text): A team may not be over the cap unless it is using one of the Section 6 exceptions.

CBA rule text · when the non-taxpayer mid-level expires
The Non-Taxpayer Mid-Level Salary Exception for a Team shall arise on the first day of each Salary Cap Year and shall expire at the start of the Team’s last game of the Regular Season during that Salary Cap Year.

Article VII, Section 6(e)(6), p. 237. Paraphrase (not CBA text): The non-taxpayer mid-level starts on the first day of the cap year and expires at the start of the team's last regular season game.

What would change this answer

Using an exception, a trade that uses or creates a traded player exception, an expiry date passing, or renouncing an exception (Article VII, Section 6(n)(2), p. 248) changes this list. Unused mid-level and bi-annual amounts also shrink daily from January 10 (Article VII, Section 6(n)(4), p. 249).

Flag · source limitation or conflict

Different retrieval dates: the salary table is the snapshot, while exception balances were retrieved and hard-cap labels were checked . A transaction between those dates can appear in one and not the other. Dead-money charges were retrieved .

How much cap space do the Memphis Grizzlies have?

On displayed contracts alone the Memphis Grizzlies are $3,168,345 under the salary cap of $164,961,000 for 2026-27, which is not the same as usable cap room.

Calculation from this page’s snapshot

Salary cap $164,961,000 against displayed team salary $161,792,655: $3,168,345 under the salary cap. The displayed total counts signed contracts, options and dead money. It leaves out the 0 free-agent cap holds in this snapshot and any exception amounts the league counts in Team Salary, so it is not a statement of usable cap room.

Interpretation: Capsheets.com lists exception balances for the Grizzlies (Non-taxpayer Mid-Level, Bi-Annual, TPE (Jaren Jackson Jr.) and TPE (Ja Morant)) that together are larger than that difference. Under the agreement, a team below the cap by less than its exceptions has those amounts included in Team Salary and its room is extinguished (Article VII, Section 6(n)(2), p. 248) unless it renounces them.

CBA rule text · what “Room” means
“Room” means the extent to which: (i) a Team’s then-current Team Salary is less than the Salary Cap; or (ii) a Team is entitled to use one of the Salary Cap Exceptions set forth in Article VII, Sections 6(c), (d), (e), (f), (g), and (j) (Disabled Player Exception, Bi-annual Exception, Non-Taxpayer Mid-Level Salary Exception, Taxpayer Mid-Level Salary Exception, Mid-Level Salary Exception for Room Teams, and Traded Player Exception).

Article I, Section 1(kkk), p. 9. Paraphrase (not CBA text): “Room” means either how far Team Salary is under the cap, or the right to use one of the listed exceptions.

CBA rule text · free agents who still count (cap holds)
until a Team’s Veteran Free Agent re-signs with his Team, signs with another NBA Team, or is renounced, he will be included in his Prior Team’s Team Salary at one of the following amounts (“Free Agent Amounts”):

Article VII, Section 4(d), p. 217. Paraphrase (not CBA text): A team's own free agent keeps counting against its Team Salary (the “Free Agent Amount”, commonly called a cap hold) until he re-signs, signs elsewhere or is renounced.

Exceptions can also count: Article VII, Section 6(n)(2), p. 248.

What would change this answer

Renouncing a free agent removes his Free Agent Amount (Article VII, Section 4(g)(1), p. 221), and renouncing an exception removes it from Team Salary (Article VII, Section 6(n)(2), p. 248). A trade, waiver, buyout, signing or option decision changes the displayed salary itself.

Which Memphis Grizzlies players have options or become extension-eligible?

The snapshot shows 14 team options and 2 player options on the Memphis Grizzlies’ books through 2029-30, and 7 players marked extension-eligible for 2026-27.

Option years in the snapshot

  • Jerami Grant: 2027-28 player option, $36,413,790
  • Isaiah Stewart: 2027-28 team option, $15,000,000
  • Ty Jerome: 2027-28 player option, $9,659,100
  • Zach Edey: 2027-28 team option, $8,067,937
  • Cedric Coward: 2027-28 team option, $6,286,920
  • Walter Clayton Jr.: 2027-28 team option, $4,390,320
  • Scotty Pippen Jr.: 2027-28 team option, $2,789,215
  • Jaylen Wells: 2027-28 team option, $2,486,995
  • Cameron Boozer: 2028-29 team option, $13,034,880
  • Quinten Post: 2028-29 team option, $8,550,000
  • Cedric Coward: 2028-29 team option, $8,342,743
  • Walter Clayton Jr.: 2028-29 team option, $6,752,312
  • Karim Lopez: 2028-29 team option, $4,121,760
  • Cam Spencer: 2028-29 team option, $2,830,685
  • Micah Peavy: 2028-29 team option, $2,735,698
  • Karim Lopez: 2029-30 team option, $6,565,964

Marked extension-eligible in 2026-27

  • Jerami Grant
  • Isaiah Stewart
  • Taylor Hendricks
  • Jordan Hawkins
  • Kris Murray
  • G.G. Jackson
  • Jaylen Wells
Read from this page’s snapshot

These lists are read directly from the contract rows above. Option types and extension markers are the Spotrac-derived workbook’s labels; this page does not test any player against the agreement’s eligibility rules, and a “team option” on a first-round pick’s rookie contract is the rookie scale option (Article VIII, Section 1(a), p. 290).

CBA rule text · what an option is
“Option” means an option in a Player Contract in favor of a Team or player to extend such Contract beyond its stated term.

Article I, Section 1(ss), p. 6. Paraphrase (not CBA text): An option lets a team or a player extend the contract beyond its stated term.

CBA rule text · the outside deadline to exercise
Any ETO must be exercised by 5:00 p.m. eastern time on the June 29 immediately prior to the Effective Season of such ETO. Any Option must be exercised by 5:00 p.m. eastern time on the June 29 immediately prior to the Season covered by the Option, except that an Option in favor of a player who would become a Restricted Free Agent if the Option were not exercised must be exercised prior to the June 25 immediately prior to the Season covered by such Option.

Article XII, Section 4, p. 338. Paraphrase (not CBA text): Options and early termination options must be exercised by 5:00 p.m. ET on June 29 before the season they cover; a player option that would otherwise leave the player a restricted free agent must be exercised before June 25.

What would change this answer

An option that is exercised or declined, an extension that is signed, a trade that moves the contract, or a waiver removes a row from these lists. Veteran extensions depend on how long ago the contract was signed (Article VII, Section 7(a)(1), pp. 249–250) and rookie scale extensions have their own window (Article VII, Section 7(b)(1), p. 254); individual contracts can set earlier option dates than the agreement’s outside deadline.

Rule citations are to the 2023 NBA-NBPA Collective Bargaining Agreement (PDF dated 6-28-23) by article, section and printed page, read . Amber boxes quote the agreement; teal boxes are this site’s calculations or readings; text marked “Paraphrase (not CBA text)” is a plain-English summary. This table reflects the agreement as published in the June 28, 2023 PDF. Later amendments, side letters or league memoranda are not in that PDF and are not reflected here.

Snapshot notes and conflicts

This page does not correct one source with another. Where the displayed snapshot is limited, or disagrees with a rule, a league level or a companion source, the disagreement is listed here.

Flag · source limitation or conflict

Hard-cap label source limitation (checked ): Requested Spotrac source returned an empty HTTP 202 response in direct retrieval and Chromium. Current 2026-27 Capsheets.com team pages explicitly identify hard-capped apron rows; plain apron rows mean no hard cap reported by that source. Only restriction labels were imported; all displayed salary amounts and apron thresholds remain the website snapshot. Restriction triggers are not supplied by these team pages. No prior-season hard caps carry forward.

Flag · source limitation or conflict

Different retrieval dates: the salary table is the snapshot, while exception balances were retrieved and hard-cap labels were checked . A transaction between those dates can appear in one and not the other. Dead-money charges were retrieved .

Flag · source limitation or conflict

The snapshot, dated , shows 19 standard contracts for 2026-27. The agreement's 14-or-15 player requirement applies during the regular season (Article XXIX, Section 2(a), p. 429) and its 21-player limit at other times (Article XXIX, Section 2(d), p. 430). The count is reported as displayed.

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