Contract Extension candidates for the Utah Jazz in 2023-24

Lauri Markkanen

The most important player on this list, the Finnisher is vital to the Jazz going forward, as his Most Improved Player season a year ago showed. However, the Jazz face some restrictions in only being able to offer him a limited contract extension right now, in the neighborhood of $81 million over 3 years.

With the other NBA extensions signed in the past few months, Markannen’s next contract has easily risen into the $30-35 million per year range, and possibly higher. The Jazz could wait a year and use the renegotiated path for a contract extension.

Domantas Sabonis was extended in this way with Sacramento during this past summer – receiving a base salary raise from $8.6 million in 2023-24 up to $28 million; then 4 additional years beyond that to reach a 5-year deal.

For Markkanen and the Jazz, it makes sense to wait and do the contract extension when the Jazz have close to $50 million in cap room next summer, and much more flexibility to pay him what he’s worth. Waiting also allows Danny Ainge to continue to update the roster around Markkanen, and make the Jazz into a contending team in the meantime.

If Markkanen struggles this year and it becomes obvious that he isn’t the centerpiece the Jazz thought, then Danny Ainge has an escape hatch – only $6 million of Markkanen’s $18 million salary in 2024-25 is guaranteed.  If Ainge and the Utah Jazz decide to move in a new direction a year from now, they could move on from Markkanen pretty easily and go all-in on a youth movement.