Lauri Markkanen, Jazz Agree To Five-Year, $238M Renegotiate And Extend Deal

The Utah Jazz and Lauri Markkanen have agreed to a five-year, $238 million deal after they renegotiated and extended his current deal. Markkanen is ineligible to be traded this season.

Markkanen was the subject of trade rumors this offseason, but the Jazz instead will retain him for at least one additional season. The Jazz were never presented an offer for Markkanen that they seriously entertained.

The Jazz could reassess Markkanen’s trade value next offseason on an extension when the Golden State Warriors, San Antonio Spurs and possibly even the Oklahoma City Thunder could have interest.

“Lauri’s ability to score in multiple ways and his versatility as a player makes our team better,” said Jazz CEO of Basketball Danny Ainge. “He embodies our team’s core values on and off the court. We’re glad that he wants to be a part of our future and what we’re building here in Utah.”

“Lauri’s combination of size, skill, and shooting is really unique, and he’s proved he’s an All-Star level player with his improvement over the past two seasons,” said Jazz General Manager Justin Zanik. “We’re excited that he shares the same vision of what our team can be long-term and to have him not only as a building block for the Jazz, but also as a member of the Utah community for years to come, is huge.”