Lauri Markkanen’s new 5-year, $238M extension with Jazz makes him ineligible to be traded this season

SALT LAKE CITY, UTAH – MARCH 25: Lauri Markkanen #23 of the Utah Jazz looks on during the first half of a game against the Dallas Mavericks at Delta Center on March 25, 2024 in Salt Lake City, Utah. (Photo by Alex Goodlett/Getty Images)

Lauri Markkanen and the Utah Jazz have worked out a five-year, $238 million contract renegotiation and extension, keeping the 27-year-old forward with the franchise through the 2028-29 NBA season, according to ESPN’s Adrian Wojnarowski.

By signing the new deal on Wednesday, Markkanen is now ineligible to be dealt for the entirety of the 2024-25 season, as Yahoo Sports’ Jake Fischer reported this week.

“He wouldn’t be eligible to be traded for six months after his new agreement, in accordance with the collective bargaining agreement, which would fall one day after the Feb. 6 trade deadline,” according to Fischer. “It was similarly crucial for Cavaliers center Jarrett Allen to sign his extension Aug. 2, leaving him available for a trade for four days prior to the deadline.”

The Jazz used $33 million of open salary-cap space in order to make the deal happen with Markkanen, and it is the richest contract in franchise history.

The renegotiation-and-extend will see Markkanen get a maximum salary of $42 million this season, with the Jazz adding $24 million of their salary cap space to the Finnish forward’s $18 million salary that he was originally due this coming season.

“They’ve all showed their belief in me, from the ownership to the front office to Will,” Markkanen told ESPN. “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 landed in Utah in September 2022 after being dealt twice in the span of a year. Drafted seventh overall by the Chicago Bulls in 2017, he was part of a three-team sign-and-trade with the Cleveland Cavaliers and Portland Trail Blazers in 2021. Markkanen went to the Cavaliers and signed a four-year, $67.5 million contract.

After one season where he posted 14.8 points and 5.7 rebounds per game, Markkanen…

Source link : https://sports.yahoo.com/lauri-markkanens-new-5-year-238m-extension-with-jazz-makes-him-ineligible-to-be-traded-this-season-161627174.html

Author : Yahoo Sports

Publish date : 2024-08-06 16:16:27

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