Kentavious Caldwell‑Pope has chosen to stay with the Memphis Grizzlies for the 2026‑27 campaign, exercising a $21.6 million player option, sources say. The 33‑year‑old, a two‑time champion, signed a three‑year, $66 million deal last summer after moving from Orlando in the Desmond Bane trade. His decision marks the final year of that contract as the team looks to stabilize its backcourt ahead.

Caldwell‑Pope missed the last 31 games after finger surgery, finishing the season in 51 contests with 14 starts. He averaged 8.4 points, 2.7 assists, 2.5 rebounds and 21.3 minutes, shooting 49.5% from inside and 31.6% from beyond the arc. The dip in his three‑point output—down from a career‑high 34.2%—raises questions about his role as the Grizzlies prepare for a playoff push this.

With the option exercised, Memphis keeps a veteran who can provide perimeter defense and timely scoring off the bench. The move frees the front office to focus on remaining cap space while the team evaluates younger guards. Caldwell‑Pope’s contract leaves the Grizzlies with a clear financial path for the next two seasons and positions them for a competitive stretch season.