Ja Morant, Grizzlies agree to contract worth up to $231 million

July 1 (UPI) -- All-Star point guard Ja Morant and the Memphis Grizzlies agreed to a five-year extension worth up to $231 million.

Sources told ESPN about the pact late Thursday. Morant later confirmed the designated rookie maximum extension on Twitter and Instagram. His agency, Tandem Sports and Entertainment, also confirmed the extension on social media.

Morant is guaranteed $193 million, but can escalate the pact to $231 million if he makes one the league's All-NBA teams next season. He was a second-team All-NBA selection in 2021-22.

The 22-year-old guard averaged a career-high 27.4 points, 6.7 assists and 5.7 rebounds per game in 57 starts last season. He helped the Grizzlies to a franchise-best 56 wins and the No. 2 seed in the Western Conference.

The Grizzlies beat the Minnesota Timberwolves in the first round of the playoffs. They then lost to the eventual champion Golden State Warriors in the Western Conference semifinals.

Morant missed the final three games of the Warriors series with a knee injury.