The Memphis Grizzlies are working with Cole Anthony on his exit that creates cap space for the team to finalize their renegotiate-and-extend deal with Jaren Jackson Jr.

The Grizzlies acquired Anthony as part of their Desmond Bane deal with the Orlando Magic. Anthony is on a $13.1 million deal this season while his $13.1 million for 2026-27 is a team option. Anthony signed a three-year, $39.1 million extension with the Magic in October 2023.

Anthony averaged 9.4 points, 3.0 rebounds and 2.9 assists in 18.4 minutes across 67 games for the Magic.