There comes a time during every offseason when excitement and trepidation balance each other out.

For Memphis basketball, that time has arrived. The Tigers have reached what is essentially the midpoint of one of the most critical stretches since Penny Hardaway became coach in 2018. About four months ago, Hardaway's team limped its way to a finish that fell well short of March Madness. And, about four months from now, Memphis will tip off the 2024-25 season — which might be the most important one of Hardaway's tenure.

Whether you're exhilarated or anxious, here are three signs of hope and three reasons to hold your breath.

Sign of hope: Roster construction

Perhaps the best example of roster construction under Hardaway came ahead of the 2022-23 season. Kendric Davis was brought in to run the show and DeAndre Williams stuck around as his right-hand man.

The supporting cast surrounding Davis and Williams was just that. Alex Lomax, Elijah McCadden, Keonte Kennedy and Damaria Franklin were role players who served as natural complements to Davis. Chandler Lawson and Malcolm Dandridge were enough in the low post to give Williams enough freedom to maximize his vast skillset.

Fit has been compromised most other seasons in deference to loading up on as much talent as Hardaway could get. That doesn't seem to be the case this time. Roles were relatively clearly defined before most of the players even got to campus last month, and there doesn't seem to be any significant overlap.

Reason for skepticism: Players' health

The Tigers have gotten through the past few offseasons relatively unscathed from an injury standpoint.

That is not the case this time. George Mason transfer point guard Baraka Okojie has already undergone surgery on his left shoulder. The expectation is he won't be back on the court until mid-October, at the earliest. Bumps and bruises are inevitable. But, as a potentially brutal non-conference schedule awaits, Memphis better hope it is healthy by tip-off.

Sign of hope: Defense first

Hardaway's exasperation was palpable for much of last season. The same coach who believes defensive effort is paramount didn't get much of it from his players in 2023-24.

So, as he scoured the transfer portal in March, April and May, he was pickier. And it paid off. Tyrese Hunter, by all accounts, is as intense a defender as there is. Moussa Cisse returns with a defensive player of the year pedigree. Tyreek Smith brings strong rebounding and rim protection.

The mindset is back.

Reason for skepticism: Investigation

Controversy rarely makes life easier. There was a cloud of it that crept over the Tigers at the end of last season, when former center Malcolm Dandridge was held out of the final five games due to potential academic misconduct.

The athletic department announced at the time that it was investigating the matter, which remains unresolved.

Until it is, nothing can be ruled out — including significant headaches.

Sign of hope: Weakened AAC

It's possible the AAC is as there-for-the-taking for Memphis as it's been since its inception.

The Tigers have never won an AAC regular-season championship. But the road there is setting up to be a smooth one. Of the five teams that finished ahead of Memphis in the standings last season, three have objectively taken steps back and one is in the ACC.

The fifth team, UAB, returns its coach and its best player.

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Reason for skepticism: So. Much. Turnover.

Continuity has always been in short supply under Hardaway. Sometimes it works out, and other times it doesn't.

But this year is no different. Only one scholarship player (and only one walk-on player) return from last season's roster. Two of the three assistant coaches will be in their first seasons at Memphis.

Will everyone be able to get well enough acquainted to reach their goals? We'll see.

Reach sports writer Jason Munz at jason.munz@commercialappeal.com or follow him @munzly on X, the social media app formerly known as Twitter.

This article originally appeared on Memphis Commercial Appeal: Memphis basketball 2024-25: 3 signs of hope, 3 reasons to worry