Ja Morant will be away from the Memphis Grizzlies for the first 25 games next season after the NBA suspended him following his latest incident brandishing a gun.

The NBA's decision to suspend Morant means the two-time Grizzlies all-star won't be eligible for regular season awards like MVP and All-NBA. ESPN's Bobby Marks reported that Morant stands to lose more than $7 million because of his 25-game suspension.

Morant issued a statement on Friday morning following the NBA's decision.

"I've had time to reflect and I realize how much hurt I've caused," Morant said in the statement. "I want to apologize to the NBA, the Grizzlies, my teammates and the city of Memphis. To Adam Silver, Zach Kleiman and Robert Pera - who gave me the opportunity to be a professional athlete and have supported me, I'm sorry for the harm I've done. To the kids who look up to me, I'm sorry for failing you as a role model. I promise I'm going to be better. To all my sponsors, I'm going to be a better representation of our brands. And to all my fans, I'm going to make it up to you, I promise."

Morant added that he'll spend his offseason working on his mental health and decision-making. After a suspension in March, Morant checked into a counseling program in Florida.

Silver, the NBA commissioner, is also prioritizing Morant's well-being. As part of the Grizzlies star's suspension, Silver said Morant must meet conditional thresholds before returning to play.

"Prior to his return to play, he will be required to formulate and fulfill a program with the league that directly addresses the circumstances that led him to repeat this destructive behavior," Silver said as part of his statement.

The Grizzlies are likely to be without Morant on the floor until December. Memphis played its 25th game on Dec. 7 last season. Once Morant returns, he likely will need a ramp-up period to work his way back into NBA game shape.

"I know my teammates are going to hold it down and I'm so sorry I won't be out there with you at the beginning of the season," Morant said.

Morant is one of the best point guards in the NBA, and that alone puts him in a position to be a leader. After his first suspension, there was still hope around the Grizzlies that Morant could become the team's leader alongside of Desmond Bane and Jaren Jackson Jr.

In a recent interview on Paul George's podcast, Jackson expressed support for Morant. Now, Morant must earn the trust of the fan base that has made him one of the NBA's most popular players.

"I hope you'll give me the chance to prove to you over time I'm a better man than what I've been showing you," Morant said.

OUT FOR 25 GAMES: NBA suspends Ja Morant 25 games after second gun video incident

SUSPENSION IMPACT: How a Ja Morant suspension would impact Memphis Grizzlies roster moves in offseason and more

This article originally appeared on Memphis Commercial Appeal: Ja Morant issues statement after NBA gives him a 25-game suspension