The Memphies Grizzlies and shooting guard Desmond Bane agreed to a five-year, $207-million max contract extension, Bane's agents told ESPN's Adrian Wojnarowski.

The deal locks up Memphis' core of Ja Morant, Jaren Jackson Jr., and Bane, as Wojnarowski notes. The Grizzlies added point guard Derrick Rose on a two-year contract on Friday evening.

Bane, drafted 30th overall in 2020, averaged 21.5 points, five rebounds, and 4.4 assists in 58 games last season, stepping up when Morant missed time. He's one of the deadliest shooters from distance, hitting 40.8% of his threes last season. He's a lifetime 42.8% shooter from deep across three seasons.

The 25-year-old will be relied upon heavily again next season, with Morant suspended for the first 25 games of 2023-24.