On Wednesday the Utah Jazz inked their star forward Lauri Markkanen to a franchise record 5-year 250 million dollar deal. The extension ends months of speculation that the Jazz would trade the star Finnish forward.

The deal first reported by Tony Jones of the Athletic puts Markkanen in Salt Lake City until at least the 2029 season. Markkanen was under contract with the Jazz for this season at just a bargain 18 million dollars. Now he will make close to 45 million dollars.

The Jazz are currently in the middle of a rebuild after having broken up the star duo of Rudy Gobert and Donovan Mitchell in 2022. Markkanen is actually part of the package the Jazz received in exchange for Mitchell. Because of the rebuild many thought that the Jazz would trade Markkanen for more draft assets. The Jazz also did not make a big splash in free agency so it appeared as if they were going to tank the season in an attempt to draft Cooper Flagg.

The Golden State Warriors were aggressive in trying to get Markkanen but ultimately would not pay the price the Jazz set fourth for the one-time all-star.

Even though the Jazz re-signed Markkanen don’t expect them to be playing to make the playoffs – the Jazz are still a tanking team for the 2025 season. The Jazz currently have Markkanen, John Collins, Collin Sexton and Jordan Clarkson on their roster, along with a plethora of guys on rookie contracts. The Utah Jazz will not be a good team next season. The Jazz will likely try and move at least Collins and Clarkson before the season starts.

Markkanen made the all-star team in 2023 when the game was hosted in Salt Lake City, and became the Jazz first starter since Karl Malone in 1998. He was a controversial snub in the 2024 all-star as at the time the Jazz actually had a 500 record and were playing great basketball. At the all-star break is when the Jazz decided to blow up their roster and trade Kelly Olynyk and Simone Fonteccio which lead to the team being abysmal the last months of the season.