The Memphis Grizzlies have exercised the third-year options on power forward Jaren Jackson Jr. and shooting guard Grayson Allen, the team announced in a news release.
Jackson was the No. 4 overall pick in the 2018 draft and averaged 13.8 points and 4.7 rebounds last season as a rookie. He and rookie point guard Ja Morant are considered the Grizzlies' two most-important building blocks.
Allen was selected by the Utah Jazz with the No. 21 overall pick, also in 2018. He averaged 5.6 points in 38 appearances last season.
The Jazz traded Allen to the Grizzlies as part of the package for point guard Mike Conley Jr.