The Utah Jazz have signed Lauri Markkanen to a five-year, $238 million contract extension, keeping him in Utah at least through the 2024-25 NBA season. Markkanen’s agent confirmed the deal to ESPN.
Markkanen became eligible for an extension on August 6. By signing on August 7, he is restricted from being traded until after the 2024-25 season due to league rules that prevent trades for six months following the signing of such extensions. As a result, Markkanen will be ineligible for any trades during the upcoming season.
“I’m ready to get back to work and build with this franchise. You guys deserve to win,” Markkanen said in a social media video directed at Jazz fans.
Markkanen expressed his commitment to the Jazz, believing in their long-term vision despite the team’s recent struggles. The Jazz have been in the lottery for the past two drafts after trading away Donovan Mitchell and Rudy Gobert, which brought Markkanen and multiple draft picks to the team. While Markkanen is a valuable player, he is not yet considered a centerpiece for a championship-contending team.
The Jazz are looking forward to the 2025 NBA Draft, which is expected to feature top prospects like Duke’s Cooper Flagg. Landing a top prospect could accelerate their rebuild. However, if they do not secure a high draft pick, the possibility of reconsidering a trade for Markkanen could be explored in the future. CBS Sports’ Sam Quinn provides further insight into why the Jazz are taking a patient approach with Markkanen.
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