On Wednesday, the Utah Jazz and Lauri Markkanen agreed to a new deal which includes a renegotiation and extension. Markkanen became eligible for an extension on Tuesday. The Jazz will pay Markkanen $238 million over the next five years.

New Deal

Lauri Markkanen was originally due $18 million this upcoming season but the new deal includes a renegotiation that adds $24 million to that number. This puts his 2024-2025 salary at $42 million.

Over the next four years, the deal includes $196 million. The average sits just below $50 million per year and makes Markkanen one of the highest paid players in the NBA.

Trade Rumors

Rumors started swirling over a month ago about the possibility of Markkanen being traded. When the news first came out, several suitors appeared. The Golden State Warriors, San Antonio Spurs, Minnesota Timberwolves, Sacramento Kings, Miami Heat, and New Orleans Pelicans were teams all rumored to be interested in making a trade for the big man.

Most of the teams rumored to be interested removed themselves from consideration once they figured out what Markkanen’s price was. The Jazz made it clear that they would not accept just any offer. The latest one that was made public came from the Golden State Warriors. The offer was Moses Moody, multiple first round picks, some pick swaps, and multiple second round picks. This offer was declined because the Jazz made it clear they wanted Brandin Podziemski and the Warriors wouldn’t budge.

Staying in Utah

Lauri Markkanen made it clear that he wanted to stay with the Jazz from the onset but his future remained up in the air. He shared that he believes in the organization and what they have been building. After being included in three trades in his career already, this deal keeps Markkanen in Utah for at least the foreseeable future.

The Utah Jazz and Lauri Markkanen made a very intentional choice when they agreed to this deal. By agreeing to the extension, Markkanen became ineligible to be traded for the next six months. Since he became eligible for the extension on August 6, he could be traded again on February 6, which is the date of the 2025 NBA Trade Deadline. Waiting until August 7 to agree to the renegotiation and extension makes it official that Markkanen will be on the Utah Jazz for the duration of the 2024-2025 season.

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