Jazz To Lock In Lauri Markkanen With $200M Extension, Trade Rumors Swirl

Despite Utah Jazz star Lauri Markkanen becoming a lightning rod for NBA trade rumors recently, with the Golden State Warriors strongly linked, he is expected to remain in Salt Lake City for the foreseeable future.

According to The Athletic, Markkanen is “expected to agree to a massive, long-term contract extension, planned to be signed Wednesday or later, making him ineligible to be traded for the entire 2024-25 season.” The new contract will be worth over $200 million over five years.

Markkanen was entering the final year of his current contract and was the subject of trade speculation throughout the summer, even though the Jazz did not readily make him available. He became eligible to sign an extension on Tuesday, and the timing of any potential deal was significant.

NBA NEWS & TRADE RUMORS: Lauri Markkanen, Utah Jazz Updates

Due to the Collective Bargaining Agreement (CBA), the Jazz cannot trade Markkanen for six months after re-signing him. If he had signed on Tuesday, Utah could have moved him on the day of the 2025 trade deadline. Signing on Wednesday or later means he is locked in for the 2024-25 season.

How competitive can the Utah Jazz be next season?

The Jazz finished 31-51 in a loaded Western Conference, but the competition is only getting stronger. With top talent expected in the 2025 NBA Draft, teams are encouraged to consider a total rebuild, including the Jazz being a logical team to do so. Trading Markkanen would only help those efforts to bottom out.

Markkanen had the best season of his career in 2022-23, averaging 25.6 points and 8.6 rebounds while shooting 39.1 percent from beyond the arc. His performance earned him his first All-Star nod and the NBA’s Most Improved Player award. This past year, he continued to impress, averaging 23.2 points, 8.2 rebounds, and 2.0 assists. He shot 48.0% from the floor and 39.9% on threes while being one of the highest-volume perimeter shooters in the league.

NBA NEWS & TRADE RUMORS: Lauri Markkanen, Utah Jazz Updates

Markkanen’s combination of shooting prowess and perimeter skills, for his size, would make him a valuable trade target for many winning teams to monitor before he’s eligible to be moved. However, that also makes him an intriguing potential talent to have as one of the foundational talents to build around.

Utah Jazz remain a rebuilding team

Before joining the Jazz, the 27-year-old Markkanen often played a perimeter role and did not consistently enjoy a ball-dominant position. However, after the trades of Rudy Gobert and Donovan Mitchell, Markkanen had more freedom and showed he could be much more than a stretch four as the focus of the team’s half-court offense. He’s thrived with many off-ball actions that leverage his motion-shooting ability, allowing him to turn the corner to attack the paint.

In the aftermath of the Mitchell trade, much of the focus was on the three first-round picks and two first-round pick swaps Utah received. Markkanen was not initially seen as the headliner, but he might become Gobert and Mitchell’s most valuable asset from the combined returns.

NBA NEWS & TRADE RUMORS: Lauri Markkanen, Utah Jazz Updates

The Jazz are now in a great position to make Markkanen a long-term cornerstone or potentially flip him down the road for more picks to fuel their ongoing rebuild. Even though they cannot trade him this season, the Jazz can revisit the option next summer. Regardless, they are likely a lottery team, with or without him.

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