After being mentioned in trade rumors all offseason, power forward Lauri Markkanen and the Utah Jazz have agreed to a five-year, $238 million extension, ESPN reported Wednesday.
Markkanen was entering the final season of a four-year, $67 million deal. This extension begins next season, overtaking the final season that was remaining on Markkanen's contract, and includes no options.
Markkanen now can't be traded for six months, a deadline that passes after the 2025 NBA trade deadline. "They've all showed their belief in me, from the ownership to the front office to Will," Markkanen said of the Jazz, per ESPN. "It's a comfortable environment and those guys' résumés speak for themselves.
I trust in the organization to help grow me as a person and a player, to build our team and I'm ready to take on the challenge." Utah acquired Markkanen, 27, as part of its return from the Cleveland Cavaliers for star guard Donovan Mitchell in 2022.