The Utah Jazz have finalized a major five-year, $238 million contract extension with power forward Lauri Markkanen, according to recent ESPN reports Wednesday. The deal comes after much speculation about Markkanen’s future following multiple offseason trade discussions.
Previously, Markkanen was in the final year of a four-year, $67 million contract. The new extension, which begins next season, effectively adds five more years to his tenure with the Jazz and does not include any player or team options.
This agreement includes a six-month hold on any potential trade involving Markkanen, and this restriction will be lifted immediately after the 2025 NBA trade deadline.
Markkanen expressed his gratitude and confidence in the organization, noting the support of the team’s leadership and his willingness to embrace future challenges with the Jazz. “The confidence of everyone in the organization, from the top down, is incredibly reassuring. It’s a testament to the environment here and the proven track record of leadership. I look forward to continuing my development and contributing to the success of our team,” Markkanen told ESPN.
The 27-year-old forward joined the Jazz in 2022 as part of a deal that sent Donovan Mitchell to the Cleveland Cavaliers. In his inaugural season with Utah, Markkanen’s performance improved dramatically, averaging 25.6 points per game, earning him an All-Star selection and the NBA Most Improved Player Award for the 2022-23 season.
Despite injuries that sidelined him for part of the season, Markkanen averaged 23.2 points and 8.2 rebounds in 55 games last season, showing his skills with shooting percentages of 48.0/39.9/89.9. The Jazz finished the season with a 31-51 record.
In the recent 2024 NBA Draft, Utah bolstered its roster by selecting forward Cody Williams from Colorado with the 10th pick and guard Isaiah Collier from USC with the 29th pick.
Originally selected seventh overall by the Chicago Bulls in the 2017 NBA Draft out of the University of Arizona, Markkanen has shown significant growth since his early days in the league. His journey through the NBA from Chicago to Cleveland and now firmly with Utah highlights his upward trajectory and importance to the Jazz’s strategic plans for the future.
