Lauri Markkanen Jazz signs extension after Tuesday

Lauri Markkanen and the Utah Jazz are expected to agree to a long-term contract extension on Wednesday or later, making him ineligible for a trade during the 2024-25 season. The Jazz have $33 million in cap space that they can use to increase Markkanen’s contract for the 2024-25 season to maximize his earnings. Markkanen’s deal is expected to be worth more than $200 million over five years and will keep him under contract through 2029.

If Markkanen had signed the extension on Tuesday, he could have been traded at the deadline.

The Jazz have held Markkanen trade talks with several serious suitors over the past month, including the San Antonio Spurs, Sacramento Kings and Golden State Warriors. The Warriors made the most aggressive offer with Moses Moody, offering multiple first-round picks, pick swaps and second-round picks.

The Jazz acquired Markkanen as part of the Donovan Mitchell deal in 2022 and has emerged as a cornerstone of the franchise.