Lauri Markkanen appears to be close to reaching a deal to stay in Utah long-term.

The Finnish forward is expected to reach a long-term contract extension with the Utah Jazz, The Athletic’s Shams Charania reported on Tuesday.

Charania reports that the deal could be finalized as soon as Wednesday.

Details of the deal have not yet been reported but it is projected to be upwards of $200 million over five years.

What is known is that upon signing an extension, the 27-year-old will no longer be eligible to be traded during 2024-25 season. It’s a notion the Jazz appeared to be exploring throughout the off-season, reportedly engaging in trade talks with teams like the San Antonio Spurs and Golden State Warriors.

However, with no team able to meet Utah’s asking price for the one-time All-Star, it appears the next plan of action will be locking him up for the foreseeable future.

Markkannen is coming off a second consecutive season averaging over 20 points — putting up 23.2 points to go with 8.2 rebounds on shooting splits of 48, 39 and 89 per cent from the field, distance and charity stripe.

According to a recent report, Lauri Markkanen is set to sign a long-term extension with the Utah Jazz. The 24-year-old Finnish forward has been a key player for the Jazz since being acquired in a trade with the Chicago Bulls last season.

Markkanen has quickly become a fan favorite in Utah, thanks to his scoring ability and versatility on the court. He has shown the ability to stretch the floor with his outside shooting, while also being a threat in the paint with his size and athleticism.

The decision to sign Markkanen to a long-term extension shows the Jazz’s commitment to building around their young core of players. With Markkanen locked up for the foreseeable future, the team can continue to build around him and develop their roster for sustained success.

Markkanen’s extension is also a testament to his hard work and dedication to improving his game. Since entering the league as a lottery pick in 2017, he has continued to refine his skills and become a more complete player. His work ethic and commitment to excellence have not gone unnoticed by the Jazz organization, who see him as a cornerstone of their future success.

Overall, the news of Lauri Markkanen signing a long-term extension with the Utah Jazz is a positive development for both the player and the team. It solidifies Markkanen’s place in Utah’s plans for the future and gives fans something to look forward to as the team continues to build towards championship contention.