Lauri Markkanen received a five-year, $238 million contract from Utah on Wednesday, according to his agent. This deal ensures that the Jazz will keep an important player for their future plans.
Agent Michael Lelchitski from Sports International Group also mentioned that $220 million of the contract is new money, and Markkanen’s salary for the next season will increase by $24 million. He had one year left on his previous deal at $18 million before this new agreement.
“I’m excited to get this extension done,” Markkanen said in a video message on X. “I’m ready to get back to work and build with this franchise.”
He also thanked Jazz management for finalizing the deal.
“Lauri’s ability to score in multiple ways and his versatility as a player makes our team better,” Jazz CEO Danny Ainge said in a statement. “He embodies our team’s core values on and off the court. We’re glad that he wants to be a part of our future and what we’re building here in Utah.”
Utah is keeping a player who has averaged 24.5 points per game since joining the team two years ago. Markkanen, a 7-footer known for his 3-point shooting, was named the NBA’s Most Improved Player in his first season with the Jazz and made his first All-Star team.
Before joining the Jazz, he played five seasons with the Cleveland Cavaliers and Chicago Bulls. His highest scoring average was 18.7 points during the 2018-19 season in Chicago.
According to ESPN Stats & Information, Dirk Nowitzki and Channing Frye are the only other 7-foot players to have made 1,000 3-pointers in NBA history.
The Jazz acquired Markkanen in a September 2022 trade that sent Donovan Mitchell to Cleveland. Markkanen’s contract extension shows he is a key part of Utah’s plans under Ainge and general manager Justin Zanik.
“Lauri’s combination of size, skill, and shooting is really unique, and he’s proved he’s an All-Star level player with his improvement over the past two seasons,” Zanik said in a statement. “We’re excited that he shares the same vision of what our team can be long-term and to have him not only as a building block for the Jazz, but also as a member of the Utah community for years to come, is huge.”
