Lauri Markkanen isn’t going anywhere. At least, for now.
On Wednesday the Finnish All-Star signed a five-year, $238 million deal with the Utah Jazz. According to team sources, the deal includes a renegotiated salary for the 2024-25 season, the final year of his current contract, as well as a four-year, $220 million extension.
Since the deal was signed on Aug. 7 and players that sign extensions can not be traded for six months, Markkanen is ineligible for a trade during the 2024-25 season, as the trade deadline falls on Feb. 6.
Trade rumors involving Markkanen swirled all offseason long — including reported discussions with the Golden State Warriors, San Antonio Spurs and other teams.
Despite the rumors, the Jazz held firm in their stance that this is the outcome they wanted. Though the front office was willing to listen to trade offers from other teams, they needed an offer that was going to be too good to refuse in order to seriously consider letting go of Markkanen. No such offer was ever presented, so the Jazz stayed the course.
“They’ve all showed their belief in me, from the ownership to the front office to Will (Hardy),” Markkanen told ESPN, who first reported news of the extension. “It’s a comfortable environment and those guys’ resumes 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.”
Markkanen arrived in Utah as part of Cleveland’s 2022 trade package for Donovan Mitchell, immediately establishing himself as the team’s new star and emerging as one of the NBA’s best frontcourt talents.
In 121 games with the Jazz, Markkanen has averaged 24.5 points and 8.4 rebounds while shooting 49% from the field and 39.5% from 3-point range. He was an All-Star starter in 2023 and earned the league’s Most Improved Player award the same year.
“Once I got traded to Utah, the organization and city immediately embraced me and it’s been a family-oriented place — especially with me having my own little kids now,” Markkanen told ESPN. “It’s been an easy transition to basketball and easy off the court. I’ve grown comfortable building all of these relationships and it’s been a great place for me to grow as a person.”