The Memphis Grizzlies made one of the more eye-opening moves at this year’s NBA trade deadline, shipping out cornerstone forward Jaren Jackson Jr. to the Utah Jazz in a deal that signaled a clear shift toward a rebuild. Along with Jackson, Memphis sent out John Konchar, Jock Landale, and Vince Williams Jr., bringing back a package that included Walter Clayton Jr., Taylor Hendricks, Kyle Anderson, Georges Niang, and-most importantly-three first-round picks.
That’s the kind of return that says one thing: Memphis is thinking long-term. But what’s just as telling is what didn’t happen. Despite plenty of noise and speculation leading up to the deadline, Ja Morant is still wearing Grizzlies blue.
For weeks, Morant’s name had been floating in trade rumors, and after the Jackson deal, it looked like the writing was on the wall. The assumption around the league was that Memphis was preparing to move on from its former franchise centerpiece. But when the dust settled at the 12 PM PST deadline, Morant remained on the roster.
So why didn’t a deal get done?
According to league sources, the Grizzlies fielded calls from multiple teams, including the Miami Heat, Minnesota Timberwolves, and Milwaukee Bucks. The Heat showed genuine interest but weren’t willing to meet Memphis’ asking price. The Bucks reportedly discussed a framework involving guard Ryan Rollins, but also wanted Memphis to absorb contracts like Kyle Kuzma or Bobby Portis-something the Grizzlies weren’t willing to entertain.
The reality is this: Morant’s trade value is complicated. On the court, he’s a dynamic talent with All-NBA upside.
But off-court issues, combined with injury concerns and declining efficiency this season, have made teams hesitant to part with major assets. That hesitancy caught Morant off guard.
Sources say he fully expected to be moved by the deadline and was surprised when no deal materialized.
Now, the focus shifts to what happens next-for both Morant and the Grizzlies.
Despite Memphis sitting near the bottom of the Western Conference and clearly pivoting toward a rebuild, Morant isn’t planning to shut things down. He’s reportedly eager to return from his elbow injury and get back on the court this season.
This isn’t just about pride-it’s about proving he can still be the player teams once viewed as a franchise cornerstone. It’s about showing, in real time, that he’s worth the investment.
And the Grizzlies are on board with that plan. They’re not interested in selling low on Morant.
The thinking inside the organization is that getting him back on the floor will help rebuild his value ahead of what could be a pivotal offseason. If a trade is going to happen, Memphis wants to make sure it’s on their terms-and that starts with Morant reminding the league of what he can do when healthy and locked in.
There’s also a major financial layer to this. Morant becomes eligible for a three-year, $178 million contract extension this summer.
Memphis has shown no interest in offering that deal right now, and any team considering a trade will have to weigh that extension in their long-term planning. It’s another wrinkle in what’s already a complex situation.
On the floor this season, Morant has appeared in just 20 games, averaging 19.5 points, 3.3 rebounds, 8.1 assists, and a steal per game. But those numbers come with a caveat-he’s shooting just 41% from the field and 23.5% from deep, both career lows. The Grizzlies are 7-13 in games he’s played, and they face the seventh-toughest remaining schedule in the league.
This is a crossroads moment for both player and franchise. Memphis is clearly retooling for the future, stockpiling picks and young talent. Morant, meanwhile, is entering the most uncertain stretch of his career-trying to prove he can still be a franchise guy, while navigating a market that’s no longer as eager to bet on him as it once was.
The Grizzlies didn’t move Morant at the deadline. But make no mistake-his future in Memphis is still very much in question. The next few months will go a long way in determining what that future looks like.