Ramifications of Lauri Markkanen Extension Explained

The Utah Jazz got their guy.

Mar 27, 2024; Salt Lake City, Utah, USA; Utah Jazz forward Lauri Markkanen (23) warms up before a game against the San Antonio Spurs at Delta Center. Mandatory Credit: Rob Gray-USA TODAY Sports / Rob Gray-USA TODAY Sports

On August 6, the first day that Lauri Markkanen became eligible to renegotiate his previous contract, Markkanen & the Utah Jazz reportedly agreed to a long-term contract extension that will keep the Finnish sharpshooter locked up through the 2029 NBA season.

The agreement officially removes Markkanen’s name from all trade discussions for the entirety of the 2024-25 season. So what does this mean for the Jazz and their rebuilding efforts? Let’s examine.

Maintaining Flexibility 

The Jazz remain in a fortuitous long-term situation given the young talent they’ve acquired through the draft, the cap flexibility they’ve maintained, and the stash of 14 future first-round draft picks they still control. 

While the terms of the deal have not been released, the belief is that by raising Markkanen’s salary this year, the Jazz will likely retain him on a very reasonable contract going forward. By doing so, the Jazz will have the flexibility to add high level running mates next to Markkanen once they believe the time is right to start cashing in their chips. 

This could happen as soon as this summer- though it is more likely the Jazz use the projected $30M plus to bolster the roster around Markkanen and Keyonte George. 

7ft elite movement shooter

Half-court offense efficiency-god. And he's on the open market... https://t.co/PmLXKJy325 pic.twitter.com/ao95ENGuwy

— NBA University (@NBA_University) August 5, 2024

Short-Term Outlook

Let’s be honest; even with Markkanen on this team and playing like the top-30 basketball player he is, the Jazz are still going to lose a lot of games this year. Any team that figures to have six rotational players 20 years old or younger is not going to win many games; those guys just aren’t ready to consistently drive winning. 

Maybe Markkanen drags this group to 26 wins instead of somewhere in the teens. With the flattened lottery odds, there is far from any guarantee of securing a top-4 pick regardless of your finish in the tank-standings. The Jazz can continue to add core pieces through the draft alongside Markkanen who’s committed to being part of a winner in Utah. 

Long-Term Building Block 

Draft picks are currency in the NBA. They beef up NBA transactions with the allure of future stars.

In reality, having Markkanen, a proven star-level player who believes in and wants to be a part of this Jazz build, is far more valuable to their long-term championship aspirations than whatever would’ve returned in draft pick form. 

Jazzman for life!

Looking forward to the next 5 years😮‍💨 pic.twitter.com/Ftyt8NxAyf

— AJ (@AJ3Jazz) August 6, 2024

The Jazz have a foundational player in the 7-footer from Finland. Markkanen signing this extension is a vote of confidence in the Jazz rebuild and an example of the faith he and the team have in one another going forward.

This is a great move for the Jazz and an exciting development for the future of this team.

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