BREAKING: The Memphis Grizzlies and All-Star Jaren Jackson Jr. are expected to agree on a five-year, $240 million maximum renegotiation-and-extension, sources tell ESPN. Head of CAA Basketball Austin Brown and CAA agent Max Saidman negotiated the new agreement with the Grizzlies.

The Memphis Grizzlies showed their commitment to Jaren Jackson Jr. for the long term on Monday. According to ESPN’s Shams Charania, Jackson and the team reached an agreement on a five-year maximum extension of his contract worth $240 million.