Sources: Caldwell-Pope picks up option with Griz

Memphis Grizzlies guard Kentavious Caldwell-Pope is exercising his $21.6 million player option for the 2026-27 season, sources told ESPN's Shams Charania on Friday. A two-time champion with the Los Angeles Lakers and Denver Nuggets, Caldwell-Pope underwent surgery to address a misalignment on his right pinkie finger in February and missed the last 31 games of the season. Caldwell-Pope, 33, averaged 8.4 points, 2. 7 assists, 2.5 rebounds and 21.3 minutes last season for the Grizzlies in 51 games with 14 starts, shooting 49.5% on 2-point field goals and 31.6% from three-point range. The veteran averaged his fewest minutes and points per game since his rookie year last season in Memphis. Caldwell-Pope's player option marks the final year of a three-year, $66 million contract for the veteran, who joined the Grizzlies from the Orlando Magic last summer as part of the Desmond Bane trade. Caldwell-Pope had been one of the league's proven three-and-D players, but his 3-point shooting percentage hasn't been better than 34.2% over the past two seasons after hitting at least 39% from deep in each of his previous four seasons before 2024-25. ESPN's Michael C. Wright contributed to this report.