NBA Rumors: Lauri Markkanen Contract Extension a Priority for Jazz amid Trade Buzz

Although Utah Jazz forward Lauri Markkanen has been the subject of trade rumors, his team reportedly wants to finalize a contract extension with him, per Jake Fischer of Yahoo Sports on Friday.

"At this point, the Jazz are expected to prioritize finding an extension agreement with Markkanen, sources said, and Utah officials made that clear during their approach for Bridges. That won't stop rival teams from calling and registering their interest in Markkanen, with the hope that Utah could decide to punt like Brooklyn — if the Jazz aren't able to secure someone close to a second star for Markkanen."

That report would go along with what ESPN's Adrian Wojnarowski (h/t RealGM) said Friday about the Jazz not wanting to move Markkanen.

"Their goal has been to bring in players around Markkanen. But there are a lot of teams looking at that 2025 draft next season. It could be a historic draft, especially at the top. Brooklyn made a decision they're going to be at the top of the draft next year. Utah hasn't made that decision. But I think Markkanen is an interesting inflection point for them. But I don't think it's their intention to move him."

The 27-year-old Markkanen averaged 23.2 points on 48.0 percent shooting (39.9 percent from three) and 8.2 rebounds in 2023-24. That performance continued a breakout that began the year prior, when Markkanen made his All-Star Game and earned the Most Improved Player award.

Markkanen has one year remaining on his deal at $18 million. So Utah obviously has a big decision to make on the former University of Arizona star.

The worst-case scenario is seeing him walk in free agency, with the best-case scenario being an agreement on a long-term contract extension given Utah's reported desire to retain him. Failing both, the best bet would be a trade so Utah could avoid losing him for nothing.

The Jazz are in a tricky spot overall, as the team is squarely in the bottom third of the Western Conference with a long rebuilding road ahead. The team does have a host of first-round draft picks up ahead, largely due to the Donovan Mitchell and Rudy Gobert trades. And the team has a great salary cap situation up ahead, allowing the team freedom to make some moves.

The biggest question is what those moves may be, but it's now clear the Jazz believe Markkanen is a player to build around long-term.