Memphis carries $161.1M in payroll against a $165.0M cap, with the tax line and both aprons far above it. The real limits are the picks already swapped or owed and a 2027-28 sheet full of options.
How close is Memphis to the cap and the tax?
Memphis has 22 contracts totaling $161.1M, under the $165.0M salary cap. The luxury tax line is $200.4M, the first apron is $209.0M and the second apron is $221.7M. The Grizzlies are nowhere near any of them. Tax and apron rules are not squeezing this club right now. The question is how to use the room.
Who is eating the biggest checks?
Jerami Grant leads at $34.2M, and he arrived from Portland in the Morant trade. Kentavious Caldwell-Pope is next at $17.7M on a player option, then Isaiah Stewart at $15.0M, Cameron Boozer at $11.8M and Ty Jerome at $9.2M. Grant is averaging 9.6 points in 24.4 minutes over eight games, a modest line for the top salary.
What leaves the books and what stays next season?
Caldwell-Pope's $17.7M, Taylor Hendricks' $7.8M and Jordan Hawkins' $7.0M do not appear on the 2027-28 sheet. Grant is listed at $36.4M as a player option, Stewart at $15.0M as a team option and Jerome at $9.7M as a player option. Boozer rises to $12.4M, Zach Edey to $8.1M and Cedric Coward to $6.3M.
Which picks does Memphis actually control?
The Grizzlies own their 2027 and 2028 first-rounders outright and hold swaps in 2029 and 2030. The seconds are mostly gone: 2027 is owed to Charlotte, 2028 and 2029 to Brooklyn, and the 2030 second is protected to Minnesota. That leaves two clean firsts to build any package around.
Is Memphis really in a position to make a trade?
On paper, yes. Fischer named the Grizzlies among teams exploring deals, alongside the Bucks, Lakers and Hornets, but no Memphis player was named in that report. With payroll below the cap, a team can absorb salary, and Memphis has two firsts it fully owns. The swaps and owed seconds mean the sweeteners run out quickly.
How much is the Grizzlies' payroll?
Memphis carries $161.1M across 22 contracts, below the $165.0M salary cap. The luxury tax line is $200.4M.
Does Memphis own its first-round picks?
Memphis owns its 2027 and 2028 first-rounders outright and holds swaps in 2029 and 2030. Its seconds are owed to Charlotte, Brooklyn and, with protection, Minnesota.
