Report: Markkanen To Sign Long Term Extension With Jazz
Aug 6, 2024, 12:00 PM | Updated: 12:02 pm
SALT LAKE CITY – Despite a summer filled with blockbuster trade rumors, Lauri Markkanen plans to renegotiate his current contract, and sign a long term extension with the Utah Jazz.
Both Yahoo Sports and The Athletic reported on the progress the two sides have made in recent days.
“NBA All-Star Lauri Markkanen and the Utah Jazz are expected to agree to a massive long-term contract extension and sign Wednesday or later, making him untradeable for entire 2024-25 (sic),” Charania posted on social media
JUST IN: NBA All-Star Lauri Markkanen and the Utah Jazz are expected to agree to a massive long-term contract extension and sign Wednesday or later, making him untradeable for entire 2024-25, sources tell me, @Tjonesonthenba, @anthonyVslater.
Details: https://t.co/g4ioZvcaix
— Shams Charania (@ShamsCharania) August 6, 2024
Lauri Markkanen To Remain With Jazz
The Markkanen news comes on the heels of trade conversations between the Jazz and several Western Conference teams.
The Golden State Warriors, San Antonio Spurs, Oklahoma City Thunder, and Sacramento Kings all explored trade opportunities to acquire the Finnish All-Star but were ultimately rebuffed by the Jazz.
“The Kings made significant progress in talks with the Jazz this summer, sources said, which ultimately fell apart by early July,” Yahoo’s Jake Fischer wrote.
All indications are Lauri Markkanen won’t sign any extension with Utah until after the day he becomes eligible to re-up with the Jazz tomorrow, league sources told @YahooSports, ruling the talented 27-year-old off the trade market for the 2024-25 season: https://t.co/VqfxRC1ehu
— Jake Fischer (@JakeLFischer) August 5, 2024
Entering the final year of his contract, the Jazz can add as much as $24 million to Markkanen’s current $18 million deal for the 2024-25 season, brining him to the 30 percent maximum salary threshold.
That raise would make Markkanen eligible to sign a max contract extension this summer, though the new deal wouldn’t begin until the the 2025-26 season.
Markkanen Likely To Wait To Sign Deal
One wrinkle in the extension talks comes down to when Markkanen actually signs his deal.
If Markkanen signs on August 6, the Jazz could trade the star during the 2024-25 season at the February 6 trade deadline.
Related: Can Jazz Tank With Markkanen On The Roster?
However, if Markkanen signs his extension on August 7 or later, he will not be eligible to be moved in season as teams cannot trade players within six months of inking them to a new deal.
Markkanen averaged 23.2 points, 8.2 rebounds, and 2.0 assists last season with the Jazz.
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Ben Anderson is the Utah Jazz insider for KSL Sports and the co-host of Jake and Ben from 10-12p with Jake Scott on 97.5 The KSL Sports Zone. Find Ben on Twitter at @BensHoops or on Instagram @BensHoops.
