The Memphis Grizzlies are reportedly nearing a long-term agreement that would keep the franchise at FedExForum for at least another two decades, a significant development for an organization seeking stability after one of the most challenging seasons in franchise history.
According to NBA insider Evan Sidery, the Grizzlies are close to finalizing an extended lease agreement that would keep the team at FedExForum for more than 20 additional years. Sidery reported that Grizzlies president Jason Wexler recently met with representatives from the Greater Memphis Chamber to discuss long-term plans for both the franchise and the downtown arena. The team’s current lease agreement is scheduled to expire in 2029.
The reported progress arrives at a pivotal moment for the organization. Memphis finished the 2025-26 season with a 25-57 record, ending the year 13th in the Western Conference and missing postseason contention. The Grizzlies finished 39 games behind conference-leading Oklahoma City and closed the season on an eight-game losing streak.
Despite the disappointing team results, Memphis continued to build around a young core led by Ja Morant. The 26-year-old point guard appeared in 20 games and averaged 19.5 points and 8.1 assists. Ty Jerome led the team in scoring among qualifying players at 19.7 points per game while shooting 42.0 percent from three-point range.
The season also provided encouraging signs from several younger contributors. Rookie wing Cedric Coward averaged 13.6 points and 5.9 rebounds across 62 appearances and earned fifth-place Rookie of the Year consideration. Zach Edey averaged 13.6 points, 11.1 rebounds and 1.9 blocks in his 11 appearances, while Jaylen Wells started all 69 of his games and contributed 12.5 points per contest.
A long-term lease extension would remove uncertainty surrounding the franchise’s arena situation and reinforce the Grizzlies’ commitment to Memphis. FedExForum has served as the club’s home since the 2004-05 season, and a new agreement would likely ensure the partnership continues well into the 2040s and potentially beyond.
