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The Utah Jazz have finalized a substantial five-year, $238 million contract extension with power forward Lauri Markkanen, as per recent reports from ESPN on Wednesday. This agreement comes after much speculation about Markkanen’s future following numerous offseason trade discussions.
Previously, Markkanen was on the last year of a four-year, $67 million deal. The new extension, which commences next season, effectively adds five more years to his tenure with the Jazz and does not incorporate any player or team options.
This deal places a six-month hold on any potential trades involving Markkanen, with this restriction lifting just after the 2025 NBA trade deadline.
Markkanen expressed his gratitude and confidence in the organization, highlighting the support from team leadership and his readiness to embrace future challenges with the Jazz. “The trust from everyone in the organization, from the top down, is incredibly affirming. It’s a testament to the environment here and the leadership’s proven track record. I’m eager to continue my development and contribute to our team’s success,” Markkanen conveyed to ESPN.
The 27-year-old forward joined the Jazz in 2022 as part of a deal that sent Donovan Mitchell to the Cleveland Cavaliers. In his inaugural season with Utah, Markkanen’s performance escalated dramatically, averaging 25.6 points per game, earning him an All-Star selection and the NBA Most Improved Player Award for the 2022-23 season.
Despite battling injuries that sidelined him for a portion of the season, Markkanen managed to average 23.2 points and 8.2 rebounds over 55 games last season, showcasing his skills with shooting splits of 48.0/39.9/89.9. The Jazz finished the season with a 31-51 record.
In the recent 2024 NBA Draft, Utah bolstered its roster by selecting forward Cody Williams from Colorado with the 10th pick and guard Isaiah Collier from USC with the 29th pick.
Markkanen, originally drafted seventh overall by the Chicago Bulls in the 2017 NBA Draft from the University of Arizona, has shown significant growth since his early days in the league. His journey through the NBA from Chicago to Cleveland and now firmly with Utah highlights his rising trajectory and importance to the Jazz’s strategic plans moving forward.
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