Once a king's ransom, Ja Morant's trade value plummets amidst injuries and uncertainty. Executives now ponder distressed asset swaps, not blockbuster deals.
Ja Morant’s future has dominated the rumor mill for a month, but the league-wide view of his value has shifted in a way that few imagined a year ago.
According to reporting from The Athletic, rival executives now view the Memphis Grizzlies’ star as part of a “buyer’s market,” with teams far more hesitant than intrigued.
The change did not happen overnight. A suspension after the Oct. 31 loss to the Lakers, frustration with Memphis’ new system, and a November calf injury all converged at a time when Morant was already struggling to rediscover the burst and rhythm that defined his peak. Instead of showcasing the form that made him a two-time All-Star, he delivered a stretch of inconsistency that raised concerns across the league.
Privately, executives describe it as a “buyer’s market” — not because Morant no longer has All-NBA talent, but because uncertainty has overtaken production. His contract, worth a combined $87 million over the next two seasons, adds to the hesitation. Health questions linger. And his reputation, shaped by months of missteps dating back to last season, continues to influence how front offices evaluate the long-term risk.
Those concerns have shaped the type of discussions circulating around the league. Rather than teams offering premium packages, much of the speculation has revolved around lateral moves. Executives have floated scenarios centered on swapping problematic stars: Atlanta’s Trae Young for Morant, Sacramento’s Zach LaVine for Morant — the kind of proposals that acknowledge both upside and significant downside on either side.
In Memphis, the shift is well understood. The Grizzlies know their leverage has eroded, and they know it won’t improve if Morant remains sidelined or disengaged. That made his recent sideline involvement in Sacramento notable. Rather than the slumped posture that marked his early-season frustration, Morant spent the night coaching teammates through defensive coverages, discussing adjustments with head coach Tuomas Iisalo, and bringing energy from the bench.
Iisalo said Morant’s engagement has mattered.
“He’s … asking stuff of me and giving some tips there for the guys,” Iisalo said.
He added that those moments have reflected a shift within the team.
“Overall, really good communication, really good leadership, both from him and also from Jaren (Jackson Jr.) and our veteran guys,” he said.
What teams evaluating Morant want to know isn’t limited to his scoring or explosiveness — those traits will always be there once he is healthy. They want to know whether adding him brings stability or volatility. That is the question shaping front-office conversations as the February trade deadline approaches.
Inside the Grizzlies’ locker room, teammates have tried to redirect the narrative. Jackson, the longest-tenured cornerstone on the roster, said Morant has taken ownership of his role while recovering from the calf injury.
“He’s a coach right now,” Jackson said.
The way Jackson described it, the impact was tangible from the bench.
“He just says what he’s seeing, talking us through things,” he said.
Kentavious Caldwell-Pope echoed the sentiment, noting how Morant has remained involved with the group during games.
“(Morant’s support) has been good,” Caldwell-Pope said.
He pointed specifically to the influence on younger guards.
“He’s been cheering the team on, helping the young guys out as far as the point guard position,” he said. “I think he’s doing a great job at it.”
Still, the Grizzlies’ 9–13 record underscores how fragile their season remains. A brief run of five wins in six games gave them a lifeline in the Western Conference, but Tuesday’s loss to San Antonio illustrated how quickly momentum can swing for a team trying to hold its season together while one of its stars works his way back.
For now, Memphis is not in a position to move Morant for pennies on the dollar. They need him to return, produce, and stabilize the franchise on the court before any trade conversation could shift in their favor. Rival teams know this — and are waiting.
Until then, the market remains exactly where it has been for weeks: soft, cautious, and unlikely to yield anything resembling the blockbuster deals that once seemed inevitable.