Less than 24 hours after it was reported that Lauri Markkanen was expected to stay put in Utah, a new deal appears to be done.
The Finnish forward has agreed to a five-year, $238 million contract extension with the Jazz, ESPN’s Adrian Wojnarowski reported on Tuesday.
A by-product of the extension is that the 27-year-old cannot be traded for at least six months. Since that pushes past the Feb. 6 trade deadline, it subsequently means he isn’t eligible to be dealt to any potential suitors till at least next off-season.
The Jazz did explore trading the one-time All-Star during and following the 2023-24 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 former seventh-overall pick, the next plan of action appeared to be a long-term extension. Markkanen had one year, $18 million left on his current deal.
“(Utah) showed their belief in me, from the ownership to the front office to Will (Hardy),” Markkanen told ESPN. “It’s a comfortable environment and those guys’ resumes speak for themselves. I trust in the organization to help grow me as a person and a player, to build our team and I’m ready to take on the challenge.”
He was rewarded with the extension after a second consecutive season averaging over 20 points — putting up 23.2 to go with 8.2 rebounds on shooting splits of 48, 39 and 89 per cent from the field, distance and charity stripe.
A solid encore performance to a 2022-23 campaign that saw Markkanen earn his first All-Star nod and the 2022-23 Most Improved Player award.
The Utah Jazz made a big move this week by signing their star forward Lauri Markkanen to a five-year contract extension. The deal is reportedly worth $90 million, making Markkanen one of the highest-paid players on the team.
Markkanen, who was acquired by the Jazz in a trade with the Chicago Bulls last season, has quickly become a fan favorite in Utah. The 24-year-old power forward has shown tremendous potential on both ends of the court, averaging 18.6 points and 7.2 rebounds per game last season.
The decision to sign Markkanen to a long-term extension was a no-brainer for the Jazz, as he has proven to be a key piece of their future success. His ability to stretch the floor with his shooting and his versatility on defense make him a valuable asset for the team.
With Markkanen locked in for the next five years, the Jazz can now focus on building a championship-contending roster around him and their other young stars, such as Donovan Mitchell and Rudy Gobert. The future looks bright for Utah, and fans can expect to see Markkanen continue to grow and develop into one of the top players in the league.