Brandon Clarke’s $12.5 million contract with the Memphis Grizzlies was protected in the event of his death, according to Priority Sports, the agency that represented Clarke.
The agency confirmed to The Commercial Appeal on Aug. 14 that Clarke’s contract was protected through life insurance via the Grizzlies, meaning the $12.5 million is expected to be paid in full through the policy.
A report from Front Office Sports on Aug. 13 said the Clarke estate would not receive the $12.5 million following his death in May. Clarke's death was due to "the effects of heroin and cocaine," according to a statement from the Los Angeles County Medical Examiner on Aug. 7. The cause of death was ruled accidental.
Priority Sports agent Mark Bartelstein told Yahoo
Sports that it was "very disappointing" to see the misinformation reported.
Clarke, 29, died May 11. He spent seven seasons with the Grizzlies after Memphis acquired him with the 21st pick in the 2019 NBA Draft.
After Clarke's death, the Grizzlies covered the funeral expenses for his celebration of life and chartered a plane for teammates to attend the services.
"The Grizzlies have been an incredible partner in supporting Brandon from the moment they drafted him," Bartelstein said. "The support that the entire Grizzlies organization has shown to Brandon's family during this devastating time has been beyond words. And we all could not be more appreciative."
Clarke signed a four-year, $50 million extension with Memphis in 2022. The contract was set to run through the 2026-27 season, with $12.5 million remaining after the 2025-26 season. The remaining $12.5 million will not count against the Grizzlies' salary cap in 2026-27.
With the life insurance policy in place, Clarke’s estate is expected to receive the full remaining value of his contract.
Damichael Cole is the Memphis Grizzlies beat writer for The Commercial Appeal. Contact Damichael at damichael.cole@commercialappeal.com. Follow Damichael on X, formerly known as Twitter, @DamichaelC.
This article originally appeared on Memphis Commercial Appeal: Why Brandon Clarke's Grizzlies contract will be paid in full to estate
