Lauri Markkanen is signing a five-year, $238 million extension with the Utah Jazz

This offseason, there were numerous reports that the Utah Jazz could trade all-star Lauri Markkanen. The Golden State Warriors were a team with serious interest. However, Golden State was not willing to part ways with Brandin Podziemski. Utah decided to keep Markkanen and they’re giving him a lucrative long-term deal. 

Per ESPN’s Adrian Wojnarowski, Lauri Markkanen is signing a five-year, $238 million extension that includes $220 million in new money. The 27-year-old has one year left on his deal with the Jazz. Now, Markkanen cannot be traded for six months. That pushes him past the February 6th deadline in 2025. Leaving the all-star out of trade rumors in 2024-25.

The Utah Jazz have signed Lauri Markkanen to a five-year, $238 million contract extension

All-Star F Lauri Markkanen to ESPN on his new deal to stay with the Utah Jazz pic.twitter.com/5ghCsyEfmk

— Adrian Wojnarowski (@wojespn) August 7, 2024

Lauri Markkanen’s first four seasons in the NBA were with the Chicago Bulls. Ahead of the 2021-22 season, Markkanen was traded to the Cavaliers. He played one season with Cleveland before the Jazz made a trade for him ahead of 2022-23. Over the first five seasons of his career, Markkanen averaged (15.2) points per game. Once he was with the Jazz, the former top-10 pick was able to take his game to new heights. In his first season with the Jazz, Markkanen averaged a career-high (26.5) points and (8.9) rebounds per game.

In 2022-23, Markkanen was voted the Most Improved Player of the Year and was named an all-star for the first time. During Utah’s 2023-24 campaign, Markkanen’s (23.2) points per game led the team. The one-time all-star has proved that he’s a valuable two-way player for the Jazz. That’s why the team signed him to a five-year, $238 million extension. His deal includes $220 million in new money. The most important part of when Markkanen signed his contract was not having to worry about trade possibilities. Markkanen cannot be traded for six months after the date he signed. He’ll miss the February 6 trade deadline. Securing at least one more season with Utah. There is a chance they could still look to trade him after the 2024-25 season.