Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report

The Jazz and Lauri Markkanen are reportedly expected to agree on a long-term contract extension that will keep one of the NBA's most-coveted trade candidates in Utah for at least next season. Markkanen is set to sign a five-year deal worth more than $200 million on Wednesday or later this week, per The Athletic. 

The timing of Markkanen's signing is crucial. He became extension eligible on Tuesday (Aug. 6). If he signs a new deal, he cannot be traded for six months. The 2025 NBA trade deadline falls on Feb. 6, 2025 -- exactly six months from Tuesday. If Markkanen signs his extension on Wednesday or later, he will not be eligible to be traded during the 2024-25 season (CBS Sports' Sam Quinn explained more here.)

Markkanen, a one-time NBA All-Star, was considered one of the top trade candidates on the market this offseason, with the Golden State Warriors making a serious push for the versatile forward. Markkanen signing an extension later this week would halt Golden State's pursuit. The Warriors reportedly offered a deal centered around Moses Moody, several first-round picks, pick swaps and second-round picks, but the Jazz coveted Brandin Podziemski in any deal for Markkanen, an asking price the Warriors were unwilling to meet. With no team meeting Utah's asking price for Markkanen they've opted to give him a long-term, lucrative deal, that will take him through the 2028-29 season.

Markkanen had a desire to stay with the Jazz, per The Athletic, as he believes in the team's long-term plan going forward. Taking the next steps in that plan will now be the focus for a squad that has been a lottery team in each of the last two drafts. After trading away both Donovan Mitchell and Rudy Gobert, which yielded them Markkanen and a large handful of draft picks, the Jazz have yet to find that centerpiece building block for the long haul. While Markkanen is a talented player, he's not the star on a championship-caliber team. But neither is anyone else on Utah's current roster. 

However, the 2025 NBA Draft is expected to have a wealth of talented players, headlined by incoming Duke star Cooper Flagg. If Utah were to land Flagg, or any of the other top prospects, it could move the rebuild along at a faster pace. 

However, if the Jazz fail to land any of those top prospects next summer, then perhaps revisiting a trade for Markkanen could be on the table down the line. At 27 years old, Markkanen's at a prime age to be an important piece on a playoff contender, and he possesses a versatile offensive skillset that will continue to make him a valuable trade asset for he foreseeable future.

Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report

Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report

Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report

Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report

Lauri Markkanen agrees to contract extension that takes him off trade block for 2024-25 NBA season, per report