The Jazz and Lauri Markkanen Agree on $238 Million Contract Extension
The Utah Jazz and Lauri Markkanen have reached a significant milestone by agreeing on a five-year, $238 million contract extension. This deal will keep Markkanen, who was one of the NBA’s most-coveted trade candidates, in Utah for at least the upcoming season, as confirmed by his agent to ESPN.
The timing of Markkanen’s signing is crucial as he became extension eligible on Tuesday, August 6. With this new contract in place, Markkanen is now ineligible to be traded for six months from the date of signing. This means he cannot be traded until after the 2025 NBA trade deadline on February 6. By delaying the signing until Wednesday, Markkanen ensured that he cannot be moved at all during the 2024-25 NBA season.
In a video message to Jazz fans posted on social media, Markkanen expressed his commitment to the team, saying, “I’m ready to get back to work and build with this franchise. You guys deserve to win.”
Markkanen, a former NBA All-Star, was a sought-after trade candidate this offseason, with the Golden State Warriors making a strong push to acquire him. However, Markkanen’s extension with the Jazz has put an end to the Warriors’ pursuit. The Jazz reportedly valued Brandin Podziemski in any potential deal for Markkanen, a condition that the Warriors were not willing to meet. As a result, the Jazz decided to secure Markkanen with a long-term, lucrative deal that will keep him with the team until the 2028-29 season.
Markkanen’s desire to stay with the Jazz stems from his belief in the team’s long-term plan. The Jazz have been in a rebuilding phase, having traded away key players like Donovan Mitchell and Rudy Gobert in exchange for Markkanen and future draft picks. While Markkanen is a valuable player, the team is still in search of a cornerstone player for a championship-caliber team.
The upcoming 2025 NBA Draft is expected to feature top prospects like Duke star Cooper Flagg. Landing a player of Flagg’s caliber could accelerate the Jazz’s rebuilding process. However, if the team fails to secure top prospects next summer, revisiting a trade for Markkanen could be a possibility in the future.
For more insights on why the Jazz are exercising patience with Markkanen, check out this analysis by CBS Sports’ Sam Quinn.
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