Memphis Grizzlies guard Kentavious Caldwell-Pope is exercising his $21.6 million player option for the 2026-27 NBA season, Hoops Rumors reported Friday, citing ESPN's Shams Charania.
The decision keeps Caldwell-Pope under contract with Memphis for one more season and puts him on track to reach unrestricted free agency next summer. ESPN's roster feed lists Caldwell-Pope as a Grizzlies guard, age 33.
Caldwell-Pope Stays On Grizzlies Deal
The option decision was expected, according to Hoops Rumors, because Caldwell-Pope was unlikely to find a comparable salary on the open market this offseason. The move turns his contract into a large expiring salary for Memphis.
Caldwell-Pope arrived from the Orlando Magic last summer in the Desmond Bane trade. In his first season with the Grizzlies, he appeared in 51 games and averaged 8.4 points, 2.7 assists and 2.5 rebounds in 21.3 minutes per game, with a .410/.316/.913 shooting line.
His season ended in February after surgery to address a misalignment in his right pinky finger. Hoops Rumors noted that Caldwell-Pope had rarely missed extended time before 2025-26, never sitting more than eight games in any previous season of his long NBA career.
Expiring Salary Shapes Memphis Options
For the Grizzlies, the option does not settle Caldwell-Pope's long-term place on the roster. It does make his 2026-27 salary guaranteed, and an expiring veteran contract can become a practical trade piece if Memphis keeps reshaping around its younger core.
For Caldwell-Pope, the choice locks in a strong one-year salary after an injury-shortened season. The next decision belongs to Memphis: keep a veteran guard in the rotation, or treat the contract as movable salary before he reaches free agency.