The Memphis Grizzlies have officially hit the reset button - and for once, they didn’t wait until it was too late.
Just a few short years ago, the Grizzlies were one of the NBA’s most exciting young teams. Ja Morant’s electric playmaking, Jaren Jackson Jr.’s two-way versatility, and a gritty supporting cast gave Memphis a real identity.
But fast forward to 2026, and the roster has been stripped down to its studs. Desmond Bane is gone.
Jackson Jr. has been dealt. Dillon Brooks left in free agency.
And Morant? He’s still in Memphis - but for how much longer is anyone’s guess.
Let’s break down how the Grizzlies got here, what they’ve done leading up to the trade deadline, and why their long-term outlook might be brighter than it seems.
The Fallout From a Promising Core
It’s hard not to look back at 2023 as the turning point. The Grizzlies bowed out early in the playoffs, losing in the first round to the Lakers.
That loss, combined with Brooks’ departure, marked the beginning of the unraveling. Since then, the front office has made a series of calculated moves, opting not to cling to a fading core but to pivot toward a full rebuild.
The centerpiece of that pivot? Trading away Desmond Bane and Jaren Jackson Jr., two foundational pieces who helped define the Grizzlies' rise.
Those deals weren’t just about clearing cap space or moving on - they were about stacking draft capital and acquiring young talent. And Memphis did just that.
The Draft Capital War Chest
After the dust settled, the Grizzlies now trail only the Thunder and Nets in terms of first-round picks over the next seven years. That’s elite company in the rebuilding game.
The Jackson trade, in particular, was a franchise-altering deal. Memphis received a haul from the Utah Jazz, including the most favorable of the Timberwolves/Cavaliers/Jazz’s 2027 first-rounders, plus unprotected picks from the Lakers (2027) and Suns (2031). That’s a significant return for a player whose supermax extension was about to kick in.
And while projecting the value of future picks is always a gamble, there’s plenty of upside here. The Jazz pick could land in the lottery, depending on how the West shakes out.
The Lakers’ pick is less promising with Luka Doncic in town, but we’ve seen how quickly things can change in this league. And the Suns’ 2031 pick?
That one’s a wildcard. Devin Booker will be 34 by then, and Phoenix may not look anything like the contender they are today.
On top of the picks, Memphis brought in young talent like Walter Clayton Jr. and Taylor Hendricks - two recent first-rounders who fit the timeline and bring upside.
Ja Morant: The Complicated Cornerstone
Then there's Ja.
Once the face of the franchise, Morant now feels more like a question mark than a building block. He’s played just 20 games this season, and the explosiveness that once defined him hasn’t been there. His three-point shot has disappeared, and the off-court issues that plagued him in recent years have made it tough for Memphis to fully commit.
The Grizzlies reportedly explored trade options, but the market wasn’t there. With two years left on his deal after this season, the front office decided to hold - for now.
It’s a gamble, but not a reckless one. If Morant can bounce back on the court and clean things up off it, his value could rise again.
If not, they’ve at least preserved optionality.
The Bigger Picture: Embracing the Rebuild
Memphis made a clear choice: don’t chase the play-in, don’t cling to the past. Blow it up, stockpile assets, and build from the ground up.
The Bane trade netted them four first-round picks and a pick swap. The Jackson deal brought in three firsts and two young players. That’s the kind of return that gives a team flexibility - whether it’s to draft and develop or package those picks for future stars.
And while the Grizzlies didn’t move Morant, they’ve earned the benefit of the doubt. They’ve shown they know when to sell high, and they’ve resisted the temptation to ride a middling roster into NBA purgatory - that dreaded middle ground where you’re not good enough to contend, but not bad enough to rebuild through the draft.
A Tank in Motion
If Monday night’s game against the Warriors was any indication, Memphis is fully leaning into the tank. The late-game sequence - where Cam Spencer didn’t even get a shot up and Tuomas Iisalo chose not to call a timeout - looked more like a team playing the lottery odds than the scoreboard.
At 20 wins and holding the league’s eighth-worst record, the Grizzlies are in the mix for a top pick, but they’ll need to keep sliding to improve those odds. The challenge?
They might still be a little too competitive. Ty Jerome has been playing inspired basketball since returning from injury, and the roster - while young - has enough talent to steal a few games.
But make no mistake: the Grizzlies are tanking with purpose. Unlike teams like the Jazz and Wizards, who made win-now moves despite their lottery motivations, Memphis isn’t pretending. They’re rebuilding out in the open.
Final Grade: A-
This isn’t a perfect teardown, but it’s close. The Grizzlies identified the right time to pivot, sold high on their stars, and brought back a mix of draft picks and young players that gives them real flexibility moving forward. They avoided the NBA’s dreaded middle - and that alone deserves credit.
There’s still work to do. Morant’s future remains unresolved, and the team will need to hit on some of these picks to turn the corner.
But the foundation is there. Cedric Coward and Zach Edey have shown promise, and the front office has positioned itself to take big swings in the coming years.
Memphis may not be a playoff team right now, but they’re playing the long game - and playing it well.