Kennard (knee) and the Grizzlies agreed to a one-year, $11 million deal Wednesday, ESPN's Adrian Wojnarowski reports.
The Grizzlies allowed Kennard to hit free agency when they declined his team option June 29, but there was always mutual interest to get a new deal done. Kennard is a valuable floor spacer for the Grizzlies, especially when playing alongside Ja Morant and Desmond Bane. During the 2023-24 regular season, Kennard drained 45 percent of his three-point attempts. He did miss time at the end of the campaign with a troublesome left knee issue, and that will be an injury to monitor ahead of training camp.