Lauri Markkanen is set to land a massive extension with the Utah Jazz, despite strong interest from other NBA teams.
The Athletic’s Shams Charania, Tony Jones, and Anthony Slater reported that the All-Star forward is expected to sign a substantial, long-term contract extension.
This deal will make Markkanen ineligible to be traded for the entire 2024-25 season. The extension, projected to be worth upwards of $200 million over five years, will keep Markkanen under contract through 2029.
This agreement will be the richest in Jazz history and one of the highest salaries for a European player in NBA history. Utah will use $33 million of open salary-cap space to facilitate the renegotiation-and-extend deal.
Markkanen’s maximum salary of $42.2 million for the upcoming season will be achieved by adding $24.13 million to his current $18 million salary.
The Jazz had trade discussions with several teams, including the San Antonio Spurs, Sacramento Kings, and Golden State Warriors.
The Warriors made the most aggressive offer, but Utah wanted Brandin Podziemski included, which Golden State declined. Talks between the Warriors and Jazz were most active in early July but faded in recent weeks.
Warriors sources acknowledged that a Markkanen extension with Utah became inevitable.
This past season, the 27-year-old Finnish power forward averaged 23.2 points, 8.2 rebounds, and 2 assists in 33.1 minutes per game.
