Breaking: Laurie Markkanen's Immediate Future Is Now Set

It's become official: As we suggested earlier this week, Laurie Markkanen has signed a massive extension today that ensures that he will remain with the Utah Jazz for the near future.

Utah Jazz All-Star forward Lauri Markkanen has signed a five-year, $238 million contract renegotiation and extension – including $220 million in new money, his agent Michael Lelchitski of @SIGSports tells ESPN. pic.twitter.com/dFx6pIc2nV
— Adrian Wojnarowski (@wojespn) August 7, 2024

The 5-year, $238 million extension signed today means that he cannot be traded until February 7th at the earliest (six months from today), which is one day after the coming season's trade deadline.

This means that any future Laurie Markkanen trade rumors won't be making the rounds at least until next summer. And he's thrilled to be staying in Utah.

"They've all showed their belief in me, from the ownership to the front office to (coach) Will (Hardy). It's a comfortable environment and those guys' resumes 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."

The emerging star has blossomed into a scoring machine from the inside and outside, as the 7-footer has averaged 24.5 points in his two years in Utah, along with 8.4 boards, 1.9 assists, and 39.5% shooting from beyond the arc.

Plenty of teams were "in" on trying to land Markkanen in a trade, most notably the Golden State Warriors. But Jazz CEO Danny Ainge maintained an extremely high ask, and then it was up to Markkanen to ensure he was able to, essentially, block any trades this season, by waiting until today to sign his extension.

Now, we'll all have to go back to the Zach LaVine and Brandon Ingram rumors to keep up satiated on the rumor mill.