Snyder had two years remaining on his previous deal, and Wojnarowski added that the new agreement "extends multiple years beyond that term."
The Jazz hired Snyder as their head coach in 2014, and he has led Utah to the playoffs in each of the past three seasons.
During his five-year stint with the Jazz, Snyder owns a 227-183 record. He also helped Utah win a playoff series in both 2017 and 2018, although they were eliminated in five games in the first round last season by the Houston Rockets.
Despite the early exit in last season's playoffs, there is a great deal of optimism surrounding the Jazz entering the 2019-20 season. Although the Los Angeles Lakers and Los Angeles Clippers are considered the top contenders to win the Western Conference after making big offseason moves, the Jazz are a popular dark-horse pick.
In addition to guard Donovan Mitchell and reigning two-time NBA Defensive Player of the Year Rudy Gobert returning to the fold, the Jazz acquired point guard Mike Conley in a trade with the Memphis Grizzlies and signed forward Bojan Bogdanovic in free agency.
Playoff success has largely eluded Utah in recent years, as it has not advanced past the second round since reaching the Western Conference Finals in 2007. The Jazz also haven't made it to the NBA Finals since 1998, which marked the second consecutive year they fell to Michael Jordan and the Chicago Bulls.
With a core of Mitchell, Gobert, Conley, Bogdanovic, Joe Ingles, Dante Exum and Ed Davis, Snyder and the Jazz have a chance to be a big-time threat in the Western Conference for several years to come.