Jazz Officially Sign Lauri Markkanen to Record-Breaking Extension

The Utah Jazz locked in their All-Star talent for the foreseeable future.

Mar 25, 2024; Salt Lake City, Utah, USA; Utah Jazz forward Lauri Markkanen warms up before the game against the Dallas Mavericks at Delta Center. Mandatory Credit: Rob Gray-USA TODAY Sports / Rob Gray-USA TODAY Sports

At long last the Utah Jazz have locked in their franchise cornerstone for the next five seasons, as Lauri Markkanen has agreed to a massive five-year, $238 million extension to remain in Salt Lake City for the next half-decade.

Markkanen's fresh agreement comes in as the largest deal in Jazz franchise history, surpassing Rudy Gobert's previous five-year, $205 million deal signed back in 2020.

The new contract for Markkanen reportedly includes $220 in new money added onto the existing $18 million he was signed onto for this coming year, averaging out to $47.6 million a season. His new deal also comes with no team or player options attached on the backend.

The Jazz forward commented on the recent extension in an interview with ESPN, crediting the Utah front office and staff for showing consistent belief in his ability and facilitating a "comfortable environment."

"They've all showed their belief in me, from the ownership to the front office to Will [Hardy]. 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."

- Lauri Markkanen, via ESPN

Markkanen was brought into SLC during the team's blockbuster Donovan Mitchell trade back in the offseason of 2022, effectively surging into a brand new player during his time in Utah. In his 121 games with the Jazz, Markkanen has averaged 24.5 points, 8.4 rebounds, and 1.9 assists en route to becoming the NBA's Most Improved Player in 2023.

Markkanen continued his praise for the Jazz in his interview with ESPN, noting that Salt Lake City has made for an easy transition on and off the court since his trade from the Cleveland Cavaliers:

"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. 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."

- Lauri Markkanen, ESPN

The extension now leaves Markkanen locked in and untradeable for the Jazz until next summer after seeing countless trade rumors involving his name swirling around in the NBA's offseason trade chatter.

Now with the biggest domino finally falling for the Jazz, this team can now focus on building around its 27-year-old star alongside its budding young core.

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