Lauri Markkanen Contract Details: Jazz Forward Signs Extension

Utah Jazz forward Lauri Markkanen has signed a massive contract extension. View Lauri Markkanen’s contract details below.

Lauri Markkanen Contract Details

Per ESPN’s Adrian Wojnarowski, Markkanen has signed a five-year, $238 million contract extension, including $220 million in new money and a $24 million salary increase.

Markkanen had one year, $18 million remaining left on his contract.

By signing the extension, Markkanen cannot be traded until the next offseason.

Markkanen’s name was floated around this past offseason and during the trade deadline, with the Golden State Warriors showing significant interest. However, Utah elects to keep their talented forward and make him one of their core pieces going forward.

Ever since the Jazz acquired Markkanen in the Donovan Mitchell trade, he has been better than advertised. During the 2022-2023 season, Markkanen exploded offensively, averaging 25.6 points and 8.6 rebounds.

The 7-footer was named Kia’s Most Improved Player and appeared on his first All-Star team.

Markkanen finished the 2024 season averaging 23.2 points and 8.2 rebounds.

Utah Jazz’s Bright Future

The Jazz are coming off their worst season in 10 years thanks to a 31-51 record. It’s the first time Utah has had consecutive losing seasons since 2016.

Utah has a good, ascending coach in Will Hardy. The Jazz are a rebuilding team, with seven players 23 or younger.

Utah will likely be a lottery team next season if they don’t make any more signings or acquisitions. However, the Jazz own 13 first-round picks from 2025-2029.