Less than a day after news emerged that Lauri Markkanen was anticipated to remain with the Utah Jazz, a new agreement seems to be in place.
The Finnish forward has reportedly signed a five-year, $238 million contract extension with the Jazz, according to ESPN’s Adrian Wojnarowski on Tuesday.
As a result of the extension, the 27-year-old is now ineligible to be traded for at least six months. This period extends beyond the February 6 trade deadline, meaning he cannot be dealt to any interested teams until at least the next off-season.
The Jazz had previously considered trading the one-time All-Star during and after the 2023-24 season, reportedly discussing potential deals with teams like the San Antonio Spurs and Golden State Warriors. However, no team met Utah’s asking price for the former seventh-overall pick, leading to the decision to pursue a long-term extension. Markkanen had one year and $18 million remaining on his current contract.
Markkanen expressed his gratitude, saying, “(Utah) showed their belief in me, from the ownership to the front office to Will (Hardy). 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.”
The extension comes after Markkanen’s second consecutive season averaging over 20 points, with 23.2 points and 8.2 rebounds per game, along with shooting splits of 48% from the field, 39% from three-point range, and 89% from the free-throw line. This follows a 2022-23 season in which he earned his first All-Star selection and the Most Improved Player award.
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