Utah Jazz star Lauri Markkanen has been the subject of numerous trade rumors this offseason, but that speculation can now officially be put to rest for at least another year.
Markkanen’s agent, Michael Lelchitski of SIG Sports, told ESPN’s Adrian Wojnarowski on Wednesday that Markkanen has signed a new 5-year, $238 million contract with the Jazz. The deal includes $200 million in new money.
Utah Jazz All-Star forward Lauri Markkanen has signed a five-year, $238 million contract renegotiation and extension – including $220 million in new money, his agent Michael Lelchitski of @SIGSports tells ESPN. pic.twitter.com/dFx6pIc2nV
— Adrian Wojnarowski (@wojespn) August 7, 2024
The timing of the deal is significant. Since Markkanen waited until Aug. 7 to sign, he is not eligible to be traded until next offseason. Had he signed a new contract with the Jazz on Tuesday, he would have been ineligible to be traded for six months, or until next season’s Feb. 6 trade deadline.
By waiting until Wednesday to sign, Markkanen has tied himself to Utah for at least another entire season. That was by design, as a recent report made it clear the 27-year-old wanted to remain with the Jazz. Markkanen confirmed that in a statement after signing his new contract.
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
Markkanen averaged 23.2 points and 8.2 rebounds per game for the Jazz last season while shooting nearly 40 percent from three-point range. At least one Western Conference contender seemed intent on trying to find a way to acquire Markkanen, but the Jazz must value him more than some of their rivals.
