Jazz, Lauri Markkanen Expected To Agree To Long-Term Contract Extension

August 5, 2024

It’s not a major surprise, but the Utah Jazz and Lauri Markkanen are expected to reach agreement on a long-term extension, per multiple reports, including Christian Clark of NOLA.com.

Markkanen is entering the final season of a four-year, $67.5 million contract signed in 2021. He has been linked to the Golden State Warriors, San Antonio Spurs and a few others in trade rumors — especially the Warriors. The possibility that he’s traded still exists, though it seems unlikely. If he waits to sign the extension until after Tuesday, he can’t be traded in the upcoming season.

Per Tony Jones of The Athletic, Markkanen is indeed expected to wait.

“Lauri has really taken to Utah. His family has taken to Utah,” Jones said in an interview with ESPN 700, via RealGM. “Obviously the Jazz can trade him between now and August 6, and Lauri knows that, but Lauri has forged a really close relationship to (coach) Will Hardy. And Will has really found a way to unlock his career.”

That said, the Jazz have at least been listening to offers. But again, a trade seems unlikely for the current face of the franchise.

“The Jazz’s asking price for Markkanen has been high, and they have no intention to compromise,” wrote Bobby Marks and Tim MacMahon of ESPN. “To trade for Markkanen, a team will have to make an offer the Jazz can’t refuse.”

Should Markkanen wait to sign the extension beyond Tuesday, as expected, he will put all those trade rumors to rest, at least for 2024-25.

“A player who signs an extension cannot be traded for six months, which makes the timing of a potential Markkanen extension of great interest around the league,” Marks and MacMahon wrote. “If he signs it on Aug. 6, Markkanen can be moved on the day of the trade deadline. If he waits one day to sign, Markkanen can guarantee he won’t be in the trade market this season.”

Markkanen averaged 23.2 points, 8.2 rebounds, 2.0 assists, 0.9 steals and 0.5 blocks in 2023-24, shooting 48.0% from the field, 39.9% on 3-pointers and 89.9% from the free-throw line in 55 games.

He carries NBA 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.