Bane was selected in the first round of the 2020 NBA draft with the 30th overall pick by the Boston Celtics, but was traded to the Grizzlies in November 2020 before the start of his rookie season.

[2] Bane focused on baseball until eighth grade, with his great-grandfather coaching at the youth level, and also played football and soccer.

Bane scored 1,991 points over his four-year career, surpassing 1988 Indiana Mr. Basketball winner Woody Austin for the most in Wayne County history.

He had 16 points including three free throws with two seconds remaining to help TCU defeat number one-ranked Kansas, 85–82, in the quarterfinals of the Phillips 66 Big 12 Championship.

Bane helped TCU win the NIT as a freshman, contributing nine points in the title game against Georgia Tech.

He had the highest three-point field goal percentage in a rookie season since Stephen Curry (minimum 150 attempts).

[14] In the first round of the 2022 NBA playoffs while facing the Minnesota Timberwolves, on April 22, Bane led Memphis in scoring with 34 points during a 119–118 Game 4 loss.

[15] On April 30, Bane scored 23 points to help the Grizzlies eliminate the Timberwolves and reach the second round of the playoffs.

[16] The Grizzlies were eventually eliminated in six games during the second round by the Golden State Warriors, who went on to win the NBA Finals.

[20] However, he made his return ahead of schedule on December 24, recording 17 points, three rebounds and two assists in a 125–100 win over the Phoenix Suns.

[27] On October 2, 2024, Bane was a full participant in training camp after suffering a back injury in the final nine games of the 2023–2024 season.