Lauri Markkanen Signs 5-Year, $238 Million Contract Extension With The Jazz

All-Star forward Lauri Markkanen has solidified his future with the Utah Jazz by signing a five-year, $238 million contract renegotiation and extension, according to ESPN's Adrian Wojnarowski .

The new deal includes $220 million in new money, as confirmed by his agent Michael Lelchitski of Sports International Group. Markkanen, who had one year and $18 million left on his previous contract, will now earn an additional $24 million for the 2024-2025 season, followed by four more years at $196 million.

This extension means Markkanen cannot be traded for the next six months, pushing any potential trade discussions past the February 6th deadline and into the next offseason. The Jazz had explored trade scenarios for Markkanen over recent months but never received an offer compelling enough to part with the 27-year-old forward, who is in the prime of his career.

Since joining the Jazz, Markkanen has become the cornerstone of the franchise's rebuild, averaging 24.5 points per game over two seasons. His previous five seasons with the Cleveland Cavaliers and Chicago Bulls saw him average 15.4 points per game. Markkanen won the NBA's Most Improved Player award in the 2022-2023 season and earned his first All-Star selection that same year.

Markkanen averaged 23.2 points, 8.2 rebounds, and 2.0 assists on 48.0% shooting from the field and 39.9% shooting from 3-point range in the 2023-24 season.

Markkanen (1,004) is one of only three 7-footers in NBA history, alongside Dirk Nowitzki (1,982) and Channing Frye (1,082)  to make over a thousand three-pointers. His shooting ability, combined with his size and athleticism, makes him a unique and valuable asset for the Jazz.

The extension not only secures Markkanen's future in Utah but also signals the team's commitment to building around him. With this deal, the Jazz aim to continue their upward trajectory in the highly competitive Western Conference, keeping their star forward as the centerpiece of their long-term plans.

Related: Utah Jazz Could Land Brandon Ingram In Blockbuster Trade Scenario

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