Report: Jazz To Use Salary-Cap Space To Give Lauri Markkanen Raise While Signing Him To Extension

August 6, 2024

According to NBA insiders Bobby Marks and Tim MacMahon of ESPN, the Utah Jazz will use salary-cap space to give Lauri Markkanen a significant raise while signing him to a contract extension.

NBA, Warriors, Jazz, Lauri Markkanen — Alex Goodlett/Getty Images

Markkanen is in the final year of a four-year, $67.5 million contract that he signed in 2021. He is slated to make $18 million next season.

All signs point toward Markkanen signing an extension with Utah after August 6 so he can’t be traded during the 2024-25 season.

“Utah has been willing to listen to offers on Markkanen since the transaction cycle leading up to the 2024 trade deadline this past February, but that doesn’t mean it has been actively shopping its best player,” Marks and MacMahon wrote. “The Jazz’s asking price for Markkanen has been high, and they have no intention to compromise. To trade for Markkanen, a team will have to make an offer the Jazz can’t refuse.

“Sources told ESPN the more likely scenario is the Jazz will use salary-cap space to give Markkanen a significant raise while signing him to a contract extension.”

One of the most versatile players in the NBA, Markkanen averaged 23.2 points, 8.2 rebounds, 2.0 assists, 0.9 steals and 0.5 blocks in 2023-24 for the Jazz while shooting 48.0% from the floor, 39.9% from beyond the arc and 89.9% from the free-throw line in 55 games.

A one-time All-Star, Markkanen has career averages of 18.1 points, 7.3 rebounds, 1.5 assists, 0.7 steals and 0.5 blocks with the Chicago Bulls, Cleveland Cavaliers and Jazz. He won the 2022-23 Most Improved Player of the Year Award with Utah.

“We’d love to be here,” Markkanen said when his contract was broached during his media exit interview at the end of this past season. “I’ve said it multiple times. My family likes to be here.”

The Jazz, who have missed the playoffs two years in a row, acquired Markkanen from the Cavaliers in 2022. Markkanen is averaging 24.5 points, 8.4 rebounds, 1.9 assists, 0.8 steals and 0.5 blocks with Utah.