SALT LAKE CITY (ABC4 Sports) – The trade rumors can finally stop. Lauri Markkanen is staying with the Utah Jazz.

Markkanen agreed to a a 5-year, $238-million extension with the Jazz on Wednesday.

Markkanen, who had one year, $18 million left on his contract, used the Jazz’s salary cap space to increase his 2024-25 salary another $24 million and agreed on another four years and $196 million that include no options, sources told ESPN.

“Lauri’s ability to score in multiple ways and his versatility as a player makes our team better,” said Jazz CEO of Basketball Danny Ainge. “He embodies our team’s core values on and off the court. We’re glad that he wants to be a part of our future and what we’re building here in Utah.”

“Lauri’s combination of size, skill, and shooting is really unique, and he’s proved he’s an All-Star level player with his improvement over the past two seasons,” said Jazz General Manager Justin Zanik. “We’re excited that he shares the same vision of what our team can be long-term and to have him not only as a building block for the Jazz, but also as a member of the Utah community for years to come, is huge.”

The extension precludes Markkanen from being traded for six months — which pushes him past Feb. 6 deadline and means he isn’t eligible to be moved until next offseason. Markkanen became eligible for the renegotiation and extension on Tuesday. The Jazz had listened on trade scenarios over recent months for Markkanen, but never were presented an offer that caused them to seriously consider moving an All-Star forward in his prime of his career at 27 years old, sources said.

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In a telephone interview from his offseason home in his native Finland with ESPN, Markkanen cited his belief in the Jazz organization for the confidence to sign the deal — including owner Ryan Smith, CEO Danny Ainge, GM Justin Zanik and coach Will Hardy.

“They’ve all showed their belief in me, from the ownership to the front office to Will,” Markkanen told ESPN. “It’s a comfortable environment and those guys’ résumés speak for themselves. I trust in the organization to help grow me as a person and a player, to build our team, and I’m ready to take on the challenge.”

Markkanen has blossomed in his two seasons with Jazz, where he has been the cornerstone of the franchise’s rebuild. He’s averaged 24.5 points in two seasons with Utah — after averaging 15.4 points in his first five seasons with the Cleveland Cavaliers and Chicago Bulls. He won the NBA’s Most Improved Player award in the 2022-23 season, and made his first All-Star team that season.

Markkanen told ESPN that he was relieved to know that he won’t be discussed in trade scenarios for at least the next season.

“It’s a weight off my shoulders and I can focus only one the main thing now: playing basketball at a high level,” Markkanen told ESPN. “I don’t stress about it, but you can’t pretend you don’t hear that stuff. It’s a good feeling knowing that I’m going to be in Utah.”

Markkanen is one of three 7-footers to make 1,000 3-pointers in NBA history, including Dirk Nowitzki and Channing Frye, according to ESPN Stats & Information. He’s the only 7-footer to make 175 3-pointers in multiple seasons in league history, according to ESPN Stats & Information.

Markkanen was the key acquisition in a September 2022 trade with the Cavaliers for All-Star guard Donovan Mitchell. After going No. 7 overall in the 2017 NBA draft to the Minnesota Timberwolves out of Arizona, Markkanen was traded to the Bulls as part of a Jimmy Butler deal and played his first four NBA seasons there. Cleveland acquired him in 2021 as part of a sign-and-trade with Chicago, where he averaged 14.8 points in the 2021-22 season before joining the Jazz.

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“Once I got traded to Utah, the organization and city immediately embraced me, and it’s been a family-oriented place — especially with me having my own little kids now,” Markkanen told ESPN. “It’s been an easy transition to basketball and easy off the court. I’ve grown comfortable building all of these relationships, and it’s been a great place for me to grow as a person.”

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