Lauri Markkanen and the Utah Jazz are expected to agree to a long-term contract extension on Wednesday or later, which will make him ineligible for a trade during the 24-25 season. The Jazz hold $33 million in cap space they can use to increase Markkanen's contract for the 24-25 season to maximize his earnings. Markkanen’s deal is projected to be worth upwards of $200 million over five years and will keep him under contract through 2029.
If Markkanen would have signed the extension on Tuesday, he could have been traded at the deadline.
The Jazz held Markkanen trade conversations with several serious suitors over the last month, including the San Antonio Spurs, Sacramento Kings and Golden State Warriors. The Warriors made the most aggressive offer with Moses Moody, multiple first round picks, pick swaps and second round picks offered.
The Jazz acquired Markkanen as part of the 2022 trade of Donovan Mitchell and emerged as a franchise cornerstone.