Tyus Jones has agreed to a two-year, $30 million deal with the Memphis Grizzlies.

Jones has played a key role on the Grizzlies as Ja Morant's backup at point guard. Last season, Jones averaged 8.7 points, 2.4 rebounds and 4.4 assists in 21.2 minutes.

The Grizzlies initially signed Jones on a three-year, $28 million offer sheet as a restricted free agent. 

Jones is represented by Kevin Bradbury. 

Jaren Jackson Jr. underwent surgery to repair a stress fracture in his right foot and is expected to miss four to six months.

Jackson is expected to make a full recovery.

The Memphis Grizzlies were without Jackson for an extended period previously due to a meniscus injury. 

Jackson signed a four-year, $105 million extension with the Grizzlies before the 21-22 season.

The Indiana Pacers and Memphis Grizzlies have been linked to a pursuit of Miles Bridges in restricted free agency.

The Pacers have considered a run for Bridges, sources tell Jake Fischer of Bleacher Report. It is unclear, however, whether the Pacers are actually prepared to add an expensive contract as the rebuild. The Pacers have historically eschewed pursuing restricted free agents, but they did acquire Malcolm Brogdon in a sign-and-trade in 2019.

Executives also say that the Grizzlies are a "sleeper candidate" for Bridges. Bridges played collegiately at Michigan State with Jaren Jackson Jr. League figures with knowledge of the situation have shot down the rumored interest of the Grizzlies.

The Hornets have signaled they're prepared to match any offer sheet for Bridges. 

The Memphis Grizzlies agreed to a two-way deal with Kenneth Lofton Jr. on Thursday.

Lofton averaged 16.5 points and 10.5 rebounds last season at Louisiana Tech. 

The Philadelphia 76ers have acquired DeAnthony Melton from the Memphis Grizzlies for the No. 23 pick in the draft and Danny Green, which they used on David Roddy.

Melton is due $8.25 million in 22-23 and $8 million 23-24.

The Memphis Grizzlies are taking steps to make sure the key members of their team are locked up to long-term contracts. The latest move was to sign head coach Taylor Jenkins to a multi-year contract extension.

Jenkins recently completed his third season leading the Grizzlies from the sidelines. He led Memphis to a franchise record-tying 56 wins last season. That was enough to see Jenkins finish in second in Coach of the Year voting.

The Grizzlies extended general manager Zach Kleiman's contract a year ago and this upcoming season will see Jaren Jackson Jr. start a four-year, $104 million extension. Next up for Memphis is an expected maximum extension for Ja Morant that would start with the 2023-24 season.

Speaking before Game 4 of the 2022 NBA Finals, Adrian Wojnarowski reported that both Zion Williamson and Ja Morant are expected to "quickly sign max extensions" when free agency opens in July. Williamson and Morant were the top two picks in the 2019 NBA Draft and are extension-eligible for the first time this summer.

New Orleans VP of basketball operations David Griffin recently said that it was an "easy decision" to offer Williamson a full max extension of five years and $186 million. Griffin did say that the Pelicans may look to add some protections to the deal. This is in case Williamson suffers any sort of re-injury during the life of the extension.

By virtue of making All-NBA in 2022, Morant may sign a designated player extension. He's eligible for the same deal as Williamson, but Morant could add designated player language that elevates his total deal to $223 million, should he make All-NBA again or win MVP.